Bank of America Corp DE Trims Stake in Genpact Limited $G

Bank of America Corp DE cut its stake in Genpact Limited (NYSE:G - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 617,762 shares of the business services provider's stock after selling 37,161 shares during the quarter. Bank of America Corp DE owned approximately 0.36% of Genpact worth $23,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Osbon Capital Management LLC acquired a new position in shares of Genpact in the 4th quarter valued at $25,000. iSAM Funds UK Ltd purchased a new position in shares of Genpact in the 3rd quarter valued at about $29,000. Johnson Financial Group Inc. purchased a new position in shares of Genpact in the 3rd quarter valued at about $29,000. Larson Financial Group LLC raised its holdings in Genpact by 428.4% in the 4th quarter. Larson Financial Group LLC now owns 708 shares of the business services provider's stock worth $33,000 after purchasing an additional 574 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Genpact during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Genpact Trading Down 0.3%

Shares of G opened at $33.77 on Tuesday. Genpact Limited has a 12-month low of $26.85 and a 12-month high of $48.64. The firm has a market capitalization of $5.67 billion, a P/E ratio of 10.02, a P/E/G ratio of 0.90 and a beta of 0.57. The firm has a 50-day moving average price of $31.35 and a 200 day moving average price of $34.65. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.44.

Genpact (NYSE:G - Get Free Report) last issued its earnings results on Tuesday, June 30th. The business services provider reported $1.00 EPS for the quarter. The company had revenue of $1.34 billion for the quarter. Genpact had a net margin of 11.04% and a return on equity of 23.34%. Sell-side analysts forecast that Genpact Limited will post 3.67 EPS for the current year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 10th. Genpact's dividend payout ratio is 22.26%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on G shares. Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Genpact in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Genpact from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. TD Cowen raised their price target on shares of Genpact from $42.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, August 7th. BMO Capital Markets reiterated a "market perform" rating and issued a $40.00 price objective on shares of Genpact in a report on Friday, August 7th. Finally, Citigroup boosted their price objective on Genpact from $32.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $39.33.

Genpact Company Profile

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.

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