CCM Investment Group LLC Invests $397,000 in Genpact Limited (NYSE:G)

Key Points

• CCM Investment Group LLC has acquired a new position in Genpact Limited with 7,936 shares valued at approximately $397,000 as of the first quarter.
• Genpact reported $0.88 earnings per share for the quarter, surpassing estimates and showing a year-over-year revenue increase of 6.6%.
• The company announced a quarterly dividend of $0.17 per share, which will be paid on September 25th, representing an annualized dividend yield of 1.6%.

CCM Investment Group LLC purchased a new position in Genpact Limited (NYSE:G - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,936 shares of the business services provider's stock, valued at approximately $397,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in G. LPL Financial LLC increased its holdings in Genpact by 42.3% in the 4th quarter. LPL Financial LLC now owns 36,268 shares of the business services provider's stock worth $1,558,000 after acquiring an additional 10,776 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Genpact by 35.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,838 shares of the business services provider's stock worth $723,000 after acquiring an additional 4,403 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Genpact by 17.5% during the fourth quarter. Federated Hermes Inc. now owns 15,142 shares of the business services provider's stock worth $650,000 after buying an additional 2,256 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Genpact by 77.1% during the fourth quarter. Legal & General Group Plc now owns 333,333 shares of the business services provider's stock worth $14,317,000 after buying an additional 145,112 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Genpact by 26.6% during the fourth quarter. Renaissance Technologies LLC now owns 155,500 shares of the business services provider's stock worth $6,679,000 after buying an additional 32,651 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Genpact Trading Up 2.1%

Shares of G stock traded up $0.90 on Wednesday, hitting $44.21. 1,479,009 shares of the stock traded hands, compared to its average volume of 1,661,424. The firm's 50-day moving average price is $43.90 and its two-hundred day moving average price is $47.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 1.53. The stock has a market capitalization of $7.70 billion, a PE ratio of 14.69, a PEG ratio of 1.52 and a beta of 0.92. Genpact Limited has a twelve month low of $37.28 and a twelve month high of $56.76.

Genpact (NYSE:G - Get Free Report) last posted its earnings results on Thursday, August 7th. The business services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.03. Genpact had a net margin of 10.92% and a return on equity of 22.15%. The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. Genpact's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given 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 yield of 1.5%. Genpact's dividend payout ratio is presently 22.59%.

Analysts Set New Price Targets

G has been the subject of a number of research reports. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Needham & Company LLC upped their target price on shares of Genpact from $50.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genpact in a report on Thursday, July 17th. They set a "hold" rating and a $47.00 target price for the company. Mizuho upped their target price on shares of Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird dropped their target price on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Genpact presently has an average rating of "Moderate Buy" and an average target price of $51.29.

Genpact Profile

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.