First Citizens Bank & Trust Co. Acquires New Holdings in Genpact Limited (NYSE:G)

First Citizens Bank & Trust Co. acquired a new position in Genpact Limited (NYSE:G) during the 1st quarter, HoldingsChannel reports. The fund acquired 5,391 shares of the business services provider’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Park Avenue Securities LLC acquired a new position in shares of Genpact in the 1st quarter worth approximately $1,755,000. UMB Bank n.a. raised its stake in Genpact by 66.2% during the first quarter. UMB Bank n.a. now owns 2,011 shares of the business services provider’s stock worth $101,000 after buying an additional 801 shares during the last quarter. Unique Wealth LLC acquired a new position in Genpact in the first quarter valued at $330,000. Vest Financial LLC lifted its holdings in Genpact by 36.0% in the first quarter. Vest Financial LLC now owns 78,543 shares of the business services provider’s stock valued at $3,957,000 after buying an additional 20,792 shares during the period. Finally, GAMMA Investing LLC boosted its position in Genpact by 9,371.4% during the first quarter. GAMMA Investing LLC now owns 490,903 shares of the business services provider’s stock valued at $24,732,000 after acquiring an additional 485,720 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genpact

In related news, Director Nicholas C. Gangestad purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was acquired at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.07% of the stock is currently owned by company insiders.

Genpact Price Performance

G stock opened at $43.83 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85. The company’s 50-day moving average is $45.66 and its 200-day moving average is $47.17. The stock has a market capitalization of $7.66 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94. Genpact Limited has a 1 year low of $30.38 and a 1 year high of $56.76.

Genpact (NYSE:G) last announced its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.55%. The ex-dividend date is Wednesday, June 18th. Genpact’s payout ratio is currently 23.21%.

Wall Street Analysts Forecast Growth

G has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Finally, Needham & Company LLC dropped their price target on Genpact from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.71.

About Genpact

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.