Sumitomo Mitsui Trust Group Inc. Reduces Position in Genpact Limited $G

Key Points

• Sumitomo Mitsui Trust Group sharply cut its Genpact stake by 99.6% in the first quarter, leaving it with just 10,478 shares worth about $390,000.
• Genpact shares were up 3.9% to $31.23, while the stock remains well below its 52-week high of $48.64 and trades at a P/E ratio of 9.58.
• The company reported Q1 earnings of $0.98 per share on $1.30 billion in revenue and announced a quarterly dividend of $0.1875 per share, implying a 2.4% annual yield.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Genpact Limited (NYSE:G - Free Report) by 99.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 10,478 shares of the business services provider's stock after selling 2,583,674 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Genpact were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Genpact by 19.7% during the 1st quarter. Royal Bank of Canada now owns 121,705 shares of the business services provider's stock valued at $6,131,000 after acquiring an additional 20,043 shares during the last quarter. Amundi bought a new stake in shares of Genpact in the first quarter worth approximately $58,000. Goldman Sachs Group Inc. raised its holdings in shares of Genpact by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 353,074 shares of the business services provider's stock valued at $17,788,000 after purchasing an additional 60,887 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Genpact by 12.4% during 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 purchasing an additional 56,557 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Genpact by 10.3% during the first quarter. Focus Partners Wealth now owns 5,227 shares of the business services provider's stock valued at $263,000 after purchasing an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Genpact Stock Up 3.9%

Shares of G stock opened at $31.23 on Friday. Genpact Limited has a 12 month low of $26.85 and a 12 month high of $48.64. The stock has a market cap of $5.29 billion, a P/E ratio of 9.58, a P/E/G ratio of 0.85 and a beta of 0.61. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $30.57 and a two-hundred day simple moving average of $36.66.

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

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 2.4%. Genpact's payout ratio is 23.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on G shares. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Genpact in a report on Friday, May 8th. Weiss Ratings lowered shares of Genpact from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, June 24th. Citigroup lowered 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 dropped their price target on Genpact from $47.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Finally, Mizuho cut their price objective on Genpact from $49.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $40.25.

Genpact Company 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.

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