Baker Avenue Asset Management LP Buys Shares of 5,947 Genpact Limited (NYSE:G)

Key Points

• Baker Avenue Asset Management LP invested approximately $300,000 in Genpact Limited, acquiring 5,947 shares during the first quarter of the year.
• Several hedge funds, including Coppell Advisory Solutions LLC and GeoWealth Management LLC, have significantly increased their holdings in Genpact, indicating strong institutional interest with 96.03% of the company's stock owned by institutional investors.
• Genpact recently announced a quarterly dividend of $0.17 per share, with a dividend yield of 1.6%, highlighting the company's commitment to returning value to shareholders.

Baker Avenue Asset Management LP acquired a new position in Genpact Limited (NYSE:G - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,947 shares of the business services provider's stock, valued at approximately $300,000.

A number of other large investors have also added to or reduced their stakes in G. Cornerstone Planning Group LLC bought a new position in Genpact in the 1st quarter valued at $27,000. Coppell Advisory Solutions LLC grew its position in Genpact by 529.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock valued at $25,000 after acquiring an additional 503 shares during the last quarter. Atlas Capital Advisors Inc. lifted its holdings in shares of Genpact by 55.8% in the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock worth $26,000 after buying an additional 216 shares during the period. Richardson Financial Services Inc. purchased a new stake in shares of Genpact in the 1st quarter worth $35,000. Finally, GeoWealth Management LLC lifted its holdings in shares of Genpact by 199.0% in the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock worth $38,000 after buying an additional 583 shares during the period. Institutional investors own 96.03% of the company's stock.

Genpact Trading Up 0.2%

Genpact stock traded up $0.07 during trading on Thursday, reaching $42.27. 79,284 shares of the company were exchanged, compared to its average volume of 1,581,764. Genpact Limited has a 52-week low of $32.18 and a 52-week high of $56.76. The company has a market capitalization of $7.39 billion, a P/E ratio of 14.46, a PEG ratio of 1.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45. The stock's 50 day simple moving average is $43.88 and its two-hundred day simple moving average is $47.14.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $0.73 earnings per share. The firm's revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. Genpact's payout ratio is presently 23.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Genpact in a research note on Thursday, July 17th. They issued a "hold" rating and a $47.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Genpact in a research note on Monday, June 30th. Mizuho increased their price target on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.75.

Insider Buying and Selling

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average cost of $43.97 per share, with a total value of $87,940.00. Following the transaction, the director owned 2,000 shares in the company, valued at $87,940. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.07% of the stock is owned by insiders.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.