OneAscent Investment Solutions LLC Purchases New Shares in Genpact Limited (NYSE:G)

Key Points

• OneAscent Investment Solutions LLC has made a new investment in Genpact Limited, acquiring 7,498 shares valued at approximately $378,000 in the first quarter.
• Genpact reported earnings of $0.88 per share, exceeding expectations, with a revenue of $1.25 billion for the last quarter, marking a 6.6% year-over-year increase.
• The company will pay a quarterly dividend of $0.17 per share on September 25th, with a current dividend yield of 1.5% and a payout ratio of 22.59%.

OneAscent Investment Solutions LLC purchased a new stake in Genpact Limited (NYSE:G - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,498 shares of the business services provider's stock, valued at approximately $378,000.

Several other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in Genpact during the first quarter worth about $115,807,000. Lord Abbett & CO. LLC acquired a new stake in shares of Genpact during the fourth quarter worth about $60,110,000. Millennium Management LLC raised its position in shares of Genpact by 829.4% during the fourth quarter. Millennium Management LLC now owns 1,057,389 shares of the business services provider's stock worth $45,415,000 after purchasing an additional 943,622 shares during the period. JPMorgan Chase & Co. raised its position in shares of Genpact by 20.9% during the first quarter. JPMorgan Chase & Co. now owns 4,111,340 shares of the business services provider's stock worth $207,129,000 after purchasing an additional 710,704 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Genpact during the first quarter worth about $24,908,000. Institutional investors own 96.03% of the company's stock.

Genpact Stock Performance

Shares of NYSE G traded down $0.03 during midday trading on Friday, hitting $43.67. 2,553,266 shares of the company's stock were exchanged, compared to its average volume of 1,697,476. The company has a quick ratio of 2.45, a current ratio of 1.53 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. The company's 50 day moving average price is $43.95 and its 200 day moving average price is $47.00. The firm has a market capitalization of $7.61 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92.

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

Genpact Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, September 11th. Genpact's payout ratio is currently 22.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Genpact in a research report on Thursday, July 17th. They set a "hold" rating and a $47.00 price target on the stock. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $53.00 target price (up previously from $50.00) on shares of Genpact in a research report on Friday, August 8th. Mizuho lifted their target price on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, Robert W. Baird dropped their target price on Genpact from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genpact presently has a consensus rating of "Moderate Buy" and an average price target of $51.29.

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.