Sumitomo Mitsui Trust Group Inc. Purchases Shares of 2,298,673 Genpact Limited (NYSE:G)

Sumitomo Mitsui Trust Group Inc. purchased a new position in Genpact Limited (NYSE:G - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,298,673 shares of the business services provider's stock, valued at approximately $115,807,000. Sumitomo Mitsui Trust Group Inc. owned about 1.31% of Genpact at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Phillips Wealth Planners LLC increased its stake in Genpact by 20.3% during the first quarter. Phillips Wealth Planners LLC now owns 5,591 shares of the business services provider's stock valued at $264,000 after purchasing an additional 944 shares during the last quarter. Sylvest Advisors LLC increased its stake in Genpact by 2.8% during the first quarter. Sylvest Advisors LLC now owns 17,644 shares of the business services provider's stock valued at $889,000 after purchasing an additional 475 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Genpact during the first quarter valued at $679,000. Suncoast Equity Management increased its stake in Genpact by 63.3% during the first quarter. Suncoast Equity Management now owns 23,101 shares of the business services provider's stock valued at $1,164,000 after purchasing an additional 8,955 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in 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 purchasing an additional 3,849 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was bought at an average cost of $43.97 per share, with a total value of $87,940.00. Following the acquisition, the director owned 2,000 shares of the company's stock, valued at $87,940. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by insiders.

Genpact Price Performance

G stock traded up $0.96 during trading on Tuesday, hitting $44.97. The company had a trading volume of 1,662,582 shares, compared to its average volume of 1,407,988. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.66 and a beta of 0.94. The business has a 50 day moving average of $44.44 and a 200 day moving average of $46.90. Genpact Limited has a fifty-two week low of $30.38 and a fifty-two week high of $56.76. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 earnings per share. As a group, research analysts predict that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Wednesday, June 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.51%. The ex-dividend date was Wednesday, June 18th. Genpact's payout ratio is currently 23.21%.

Analyst Ratings Changes

Several research firms have weighed in on G. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Genpact in a research note on Monday. Mizuho boosted their price target on shares of Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a report on Tuesday. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Robert W. Baird reduced their price target on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.14.

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.