Informed Momentum Co LLC Purchases New Shares in Genpact Limited (NYSE:G)

Informed Momentum Co LLC purchased a new stake in Genpact Limited (NYSE:G) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 79,964 shares of the business services provider’s stock, valued at approximately $4,029,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in G. LPL Financial LLC raised its holdings in Genpact by 42.3% in the 4th quarter. LPL Financial LLC now owns 36,268 shares of the business services provider’s stock valued at $1,558,000 after acquiring an additional 10,776 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Genpact by 35.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,838 shares of the business services provider’s stock valued at $723,000 after acquiring an additional 4,403 shares in the last quarter. Federated Hermes Inc. raised its holdings in Genpact by 17.5% in the 4th quarter. Federated Hermes Inc. now owns 15,142 shares of the business services provider’s stock valued at $650,000 after acquiring an additional 2,256 shares in the last quarter. Legal & General Group Plc raised its holdings in Genpact by 77.1% in the 4th quarter. Legal & General Group Plc now owns 333,333 shares of the business services provider’s stock valued at $14,317,000 after acquiring an additional 145,112 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Genpact by 26.6% in the 4th quarter. Renaissance Technologies LLC now owns 155,500 shares of the business services provider’s stock valued at $6,679,000 after acquiring an additional 32,651 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Price Performance

Shares of G opened at $43.24 on Tuesday. Genpact Limited has a 12-month low of $36.44 and a 12-month high of $56.76. The business has a 50-day simple moving average of $43.86 and a two-hundred day simple moving average of $47.10. The company has a quick ratio of 2.45, a current ratio of 1.53 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.56 billion, a PE ratio of 14.37, a PEG ratio of 1.65 and a beta of 0.92.

Genpact (NYSE:G) last issued its earnings results on Thursday, August 7th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. Genpact had a return on equity of 22.15% and a net margin of 10.92%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, September 11th. Genpact’s dividend payout ratio is presently 22.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on G shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 price objective (up from $50.00) on shares of Genpact in a report on Friday. Mizuho boosted their price target on Genpact from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Genpact in a report on Thursday, July 17th. They set a “hold” rating and a $47.00 price target for the company. Robert W. Baird lowered their price target on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Finally, Wall Street Zen raised Genpact from a “buy” rating to a “strong-buy” rating in a report on Friday, June 6th. Five 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 stock. Based on data from MarketBeat, Genpact presently has an average rating of “Moderate Buy” and an average price target of $50.13.

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.