Summit Creek Advisors LLC raised its holdings in shares of Genpact Limited (NYSE:G) by 305.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,980 shares of the business services provider’s stock after purchasing an additional 26,360 shares during the quarter. Summit Creek Advisors LLC’s holdings in Genpact were worth $1,355,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new position in Genpact during the 2nd quarter worth $31,000. Captrust Financial Advisors boosted its holdings in Genpact by 109.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,072 shares of the business services provider’s stock worth $41,000 after acquiring an additional 561 shares during the last quarter. Capital Bank & Trust Co purchased a new position in Genpact during the 2nd quarter worth $78,000. Parallel Advisors LLC boosted its holdings in Genpact by 741.2% during the 2nd quarter. Parallel Advisors LLC now owns 3,003 shares of the business services provider’s stock worth $114,000 after acquiring an additional 2,646 shares during the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in Genpact during the 2nd quarter worth $133,000. Institutional investors and hedge funds own 94.72% of the company’s stock.
In other news, Director David Humphrey sold 3,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $17.10, for a total transaction of $51,300.00. Following the sale, the director now directly owns 4,500 shares in the company, valued at $76,950. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Bain Capital Investors Llc sold 10,621,804 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $40.51, for a total value of $430,289,280.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,580,720 shares of company stock worth $509,578,468. Insiders own 1.86% of the company’s stock.
A number of research firms have issued reports on G. Wedbush lifted their price objective on shares of Genpact from $33.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Cantor Fitzgerald boosted their price target on shares of Genpact from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Zacks Investment Research raised shares of Genpact from a “sell” rating to a “hold” rating and set a $43.00 price target on the stock in a report on Thursday, September 12th. Bank of America boosted their price target on shares of Genpact from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Deutsche Bank boosted 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Genpact currently has an average rating of “Buy” and a consensus target price of $39.70.
NYSE G traded up $0.18 during trading on Thursday, hitting $38.73. 10,789 shares of the company’s stock traded hands, compared to its average volume of 895,563. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 2.02 and a beta of 0.80. Genpact Limited has a 12-month low of $25.48 and a 12-month high of $44.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.46 and a current ratio of 1.46. The business has a 50 day moving average of $39.36 and a 200-day moving average of $38.04.
Genpact (NYSE:G) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $882.79 million for the quarter, compared to the consensus estimate of $824.84 million. Genpact had a net margin of 8.77% and a return on equity of 21.87%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share. On average, analysts expect that Genpact Limited will post 1.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, September 10th. Genpact’s dividend payout ratio (DPR) is presently 21.25%.
Genpact Company Profile
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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