Bahl & Gaynor Inc. bought a new position in shares of Genpact Limited (NYSE:G) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,598 shares of the business services provider’s stock, valued at approximately $861,000.
A number of other large investors have also bought and sold shares of G. BlackRock Inc. boosted its position in Genpact by 17.8% during the 1st quarter. BlackRock Inc. now owns 9,496,584 shares of the business services provider’s stock worth $334,091,000 after buying an additional 1,431,928 shares during the period. FIL Ltd boosted its position in Genpact by 35.3% during the 1st quarter. FIL Ltd now owns 4,799,093 shares of the business services provider’s stock worth $168,832,000 after buying an additional 1,251,581 shares during the period. Wells Fargo & Company MN boosted its position in Genpact by 37.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,337,257 shares of the business services provider’s stock worth $89,026,000 after buying an additional 636,974 shares during the period. JPMorgan Chase & Co. boosted its position in Genpact by 766.4% during the 1st quarter. JPMorgan Chase & Co. now owns 473,000 shares of the business services provider’s stock worth $16,640,000 after buying an additional 418,407 shares during the period. Finally, Fenimore Asset Management Inc. acquired a new stake in Genpact during the 2nd quarter worth approximately $10,741,000. Institutional investors and hedge funds own 94.71% of the company’s stock.
Several research firms recently commented on G. Bank of America lifted their target price on shares of Genpact from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of Genpact from a “sell” rating to a “hold” rating and set a $43.00 target price on the stock in a research report on Thursday. Cantor Fitzgerald lifted their target price on shares of Genpact from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Deutsche Bank raised their price target on shares of Genpact from $36.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Finally, Wedbush raised their price target on shares of Genpact from $33.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Genpact currently has a consensus rating of “Buy” and a consensus price target of $39.70.
Genpact stock traded down $0.37 during mid-day trading on Friday, hitting $39.29. 572,272 shares of the stock were exchanged, compared to its average volume of 1,028,058. The firm’s fifty day simple moving average is $40.47 and its two-hundred day simple moving average is $37.21. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.09 and a beta of 0.83. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.78. Genpact Limited has a 12 month low of $25.48 and a 12 month high of $44.55.
Genpact (NYSE:G) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $882.79 million during the quarter, compared to analyst estimates of $824.84 million. Genpact had a net margin of 8.77% and a return on equity of 21.87%. Genpact’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, analysts forecast that Genpact Limited will post 1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th will be paid a $0.085 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.34 annualized dividend and a dividend yield of 0.87%. Genpact’s dividend payout ratio is currently 21.25%.
In other Genpact news, major shareholder Bain Capital Investors Llc sold 10,621,804 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $40.51, for a total transaction of $430,289,280.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Humphrey sold 3,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $17.10, for a total transaction of $51,300.00. Following the sale, the director now owns 4,500 shares of the company’s stock, valued at approximately $76,950. The disclosure for this sale can be found here. Insiders sold a total of 12,580,720 shares of company stock valued at $509,578,468 in the last quarter. 1.86% of the stock is currently owned by company insiders.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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