Suncoast Equity Management Raises Holdings in Genpact Limited (NYSE:G)

Suncoast Equity Management grew its position in Genpact Limited (NYSE:G - Free Report) by 63.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,101 shares of the business services provider's stock after buying an additional 8,955 shares during the quarter. Suncoast Equity Management's holdings in Genpact were worth $1,164,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in G. Norges Bank purchased a new stake in shares of Genpact during the 4th quarter worth $90,516,000. Tandem Investment Advisors Inc. lifted its stake in shares of Genpact by 390.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider's stock worth $91,480,000 after purchasing an additional 1,695,706 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider's stock worth $423,205,000 after purchasing an additional 1,511,790 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Genpact during the 4th quarter worth $60,110,000. Finally, Millennium Management LLC lifted its stake in shares of Genpact by 829.4% during the 4th 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 last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Trading Down 3.5%

Shares of NYSE:G opened at $40.63 on Friday. The business's 50-day moving average is $45.09 and its 200 day moving average is $46.99. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76. The firm has a market capitalization of $7.10 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 2.45.

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

Genpact Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, June 18th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, June 18th. Genpact's dividend payout ratio is presently 23.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Genpact from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Robert W. Baird decreased their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC decreased their price objective on Genpact from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Genpact presently has a consensus rating of "Moderate Buy" and an average price target of $50.71.

Insider Activity

In other news, Director Nicholas C. Gangestad acquired 2,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $43.97 per share, with a total value of $87,940.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company's stock, valued at approximately $87,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.07% of the company's stock.

Genpact 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.

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