Genpact Limited $G Shares Bought by CX Institutional

Key Points

• CX Institutional increased its Genpact holdings by 23.3% in the second quarter, bringing its position to 178,114 shares valued at approximately $4.9 million. Institutional investors collectively own 96.03% of the company.
• Genpact reported quarterly revenue of $1.30 billion and earnings of $0.98 per share. The company also declared a quarterly dividend of $0.1875 per share, equivalent to an annualized $0.75 payout and a 2.1% yield.
• Analyst sentiment remains cautious, with two Buy ratings and six Holds; Genpact has an overall consensus rating of Hold and an average price target of $40.25.

CX Institutional grew its holdings in shares of Genpact Limited (NYSE:G - Free Report) by 23.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,114 shares of the business services provider's stock after purchasing an additional 33,613 shares during the period. CX Institutional owned about 0.11% of Genpact worth $4,898,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Basecamp Wealth Advisors LLC increased its stake in Genpact by 54.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,046 shares of the business services provider's stock worth $39,000 after buying an additional 370 shares during the period. Pacer Advisors Inc. boosted its position in Genpact by 40.7% in the 1st quarter. Pacer Advisors Inc. now owns 765,204 shares of the business services provider's stock valued at $28,504,000 after buying an additional 221,536 shares during the period. NewEdge Advisors LLC boosted its position in Genpact by 12.7% in the 1st quarter. NewEdge Advisors LLC now owns 14,369 shares of the business services provider's stock valued at $535,000 after buying an additional 1,622 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Genpact by 41.4% in the first quarter. Glenmede Trust Co. NA now owns 151,155 shares of the business services provider's stock worth $5,631,000 after acquiring an additional 44,292 shares in the last quarter. Finally, Access Investment Management LLC increased its position in shares of Genpact by 2.3% during the first quarter. Access Investment Management LLC now owns 252,522 shares of the business services provider's stock worth $9,406,000 after acquiring an additional 5,747 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Genpact Trading Up 1.8%

NYSE:G opened at $35.78 on Wednesday. The stock has a 50-day simple moving average of $31.05 and a 200-day simple moving average of $35.36. The stock has a market cap of $6.06 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.99 and a beta of 0.57. Genpact Limited has a 1 year low of $26.85 and a 1 year high of $48.64. 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 issued its earnings results on Tuesday, March 31st. The business services provider reported $0.98 earnings per share for the quarter. The business had revenue of $1.30 billion for the quarter. Genpact had a return on equity of 22.70% and a net margin of 11.04%. As a group, analysts anticipate that Genpact Limited will post 3.64 earnings per share 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 issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.1%. Genpact's dividend payout ratio (DPR) is presently 23.01%.

Analyst Upgrades and Downgrades

G has been the topic of several analyst reports. Mizuho reduced their price objective on Genpact from $49.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. Citigroup cut their price target on Genpact from $43.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, May 11th. TD Cowen reduced their price target on Genpact from $47.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Robert W. Baird decreased their price objective on Genpact from $45.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded Genpact from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Genpact presently has an average rating of "Hold" and a consensus price target of $40.25.

About Genpact

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source