Charles Schwab Investment Management Inc. Reduces Position in Genpact Limited (NYSE:G)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Genpact Limited by 0.9%, now owning approximately 1,108,721 shares valued at $55.9 million.
• Besides Schwab, other institutional investors, including Envestnet Portfolio Solutions and Wealth Enhancement Advisory Services, also increased their holdings in Genpact during the same period.
• Genpact reported earnings per share of $0.88, exceeding analysts' expectations, with revenue of $1.25 billion, indicating a 6.6% year-over-year growth.

Charles Schwab Investment Management Inc. lessened its stake in shares of Genpact Limited (NYSE:G - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,108,721 shares of the business services provider's stock after selling 10,546 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Genpact worth $55,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Genpact by 59.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,355 shares of the business services provider's stock valued at $522,000 after acquiring an additional 3,849 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Genpact by 20.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,650 shares of the business services provider's stock valued at $486,000 after acquiring an additional 1,651 shares in the last quarter. GAMMA Investing LLC raised its stake in Genpact by 88.0% in the first quarter. GAMMA Investing LLC now owns 9,744 shares of the business services provider's stock worth $491,000 after buying an additional 4,561 shares in the last quarter. 111 Capital bought a new position in Genpact in the fourth quarter worth approximately $301,000. Finally, Assenagon Asset Management S.A. bought a new position in Genpact in the first quarter worth approximately $2,396,000. Institutional investors own 96.03% of the company's stock.

Wall Street Analysts Forecast Growth

G has been the subject of a number of recent research reports. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $53.00 price objective (up previously from $50.00) on shares of Genpact in a research note on Friday, August 8th. Mizuho boosted their price objective on shares of Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Genpact in a research note on Thursday, July 17th. They issued a "hold" rating and a $47.00 price objective for the company. Finally, Robert W. Baird reduced their price objective on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Four investment 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. Based on data from MarketBeat.com, Genpact presently has an average rating of "Moderate Buy" and an average target price of $51.29.

Genpact Stock Performance

Shares of G stock opened at $43.67 on Friday. The business's fifty day simple moving average is $43.95 and its 200-day simple moving average is $47.01. The company has a market cap of $7.61 billion, a PE ratio of 14.51, a PEG ratio of 1.53 and a beta of 0.92. The company has a current ratio of 1.53, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. Genpact Limited has a 12-month low of $37.82 and a 12-month high of $56.76.

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

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a dividend of $0.17 per share. 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 dividend payout ratio is presently 22.59%.

Genpact Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.