Empowered Funds LLC Acquires 80,982 Shares of Genpact Limited $G

Key Points

• Empowered Funds LLC increased its Genpact stake by 272% in the first quarter, acquiring 80,982 additional shares for a total holding of 110,757 shares worth approximately $4.1 million. Institutional investors collectively own 96.03% of the company.
• Analysts broadly remain cautious, with several firms lowering their price targets. Genpact has an average rating of “Hold” and an average target price of $40.25.
• Genpact shares opened at $35.17, while the company announced a quarterly dividend of $0.1875 per share, equivalent to an annualized $0.75 payout and a 2.1% yield.

Empowered Funds LLC raised its holdings in shares of Genpact Limited (NYSE:G - Free Report) by 272.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,757 shares of the business services provider's stock after purchasing an additional 80,982 shares during the period. Empowered Funds LLC owned 0.07% of Genpact worth $4,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Genpact by 19.7% during the first quarter. Royal Bank of Canada now owns 121,705 shares of the business services provider's stock valued at $6,131,000 after buying an additional 20,043 shares during the period. Amundi purchased a new stake in Genpact in the first quarter worth $58,000. Goldman Sachs Group Inc. lifted its stake in Genpact by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 353,074 shares of the business services provider's stock worth $17,788,000 after acquiring an additional 60,887 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Genpact by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 511,627 shares of the business services provider's stock valued at $25,776,000 after acquiring an additional 56,557 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in Genpact by 10.3% in the first quarter. Focus Partners Wealth now owns 5,227 shares of the business services provider's stock valued at $263,000 after acquiring an additional 488 shares in the last quarter. Institutional investors own 96.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup decreased their price objective on shares of Genpact from $43.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Mizuho reduced their price target on shares of Genpact from $49.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, May 11th. Susquehanna lowered their price objective on shares of Genpact from $42.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Robert W. Baird cut their price objective on Genpact from $45.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 target price on Genpact in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $40.25.

Genpact Price Performance

Shares of NYSE G opened at $35.17 on Monday. Genpact Limited has a fifty-two week low of $26.85 and a fifty-two week high of $48.64. The company has a 50 day simple moving average of $30.89 and a two-hundred day simple moving average of $35.53. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 0.99 and a beta of 0.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 1.69.

Genpact (NYSE:G - Get Free Report) last released its earnings results on Tuesday, March 31st. The business services provider reported $0.98 earnings per share (EPS) for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. The firm had revenue of $1.30 billion during the quarter. Analysts expect that Genpact Limited will post 3.64 EPS for the current fiscal year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.1%. Genpact's payout ratio is presently 23.01%.

Genpact 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.