Suncoast Equity Management Buys 8,955 Shares of Genpact Limited (NYSE:G)

Suncoast Equity Management increased its holdings in Genpact Limited (NYSE:G - Free Report) by 63.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,101 shares of the business services provider's stock after purchasing an additional 8,955 shares during the quarter. Suncoast Equity Management's holdings in Genpact were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its holdings in shares of Genpact by 529.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 598 shares of the business services provider's stock worth $25,000 after purchasing an additional 503 shares during the last quarter. Atlas Capital Advisors Inc. boosted its position in Genpact by 55.8% during the 4th quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider's stock valued at $26,000 after buying an additional 216 shares during the period. GeoWealth Management LLC grew its holdings in Genpact by 199.0% in the 4th quarter. GeoWealth Management LLC now owns 876 shares of the business services provider's stock worth $38,000 after acquiring an additional 583 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Genpact by 416.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider's stock valued at $41,000 after acquiring an additional 783 shares during the period. Finally, Global X Japan Co. Ltd. bought a new position in shares of Genpact during the first quarter valued at about $57,000. 96.03% of the stock is owned by institutional investors.

Genpact Stock Up 1.7%

Shares of NYSE G traded up $0.69 during mid-day trading on Tuesday, hitting $42.19. 1,859,963 shares of the stock traded hands, compared to its average volume of 1,396,837. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.54 and a beta of 0.94. The stock has a fifty day moving average price of $44.96 and a 200-day moving average price of $46.99. Genpact Limited has a 52 week low of $30.38 and a 52 week high of $56.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current 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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. Research analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, June 18th. Genpact's payout ratio is 23.21%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Nicholas C. Gangestad bought 2,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was 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 represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% 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.