Wells Fargo & Company MN raised its position in shares of Genpact Limited (NYSE:G) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,700,283 shares of the business services provider’s stock after purchasing an additional 18,397 shares during the quarter. Wells Fargo & Company MN owned 0.90% of Genpact worth $59,816,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of G. Bremer Bank National Association purchased a new position in Genpact in the first quarter worth approximately $38,000. Bremer Trust National Association acquired a new position in Genpact during the fourth quarter worth $36,000. New York State Teachers Retirement System acquired a new position in Genpact during the first quarter worth $77,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Genpact during the fourth quarter worth $162,000. Finally, Sigma Planning Corp acquired a new stake in shares of Genpact in the first quarter valued at $238,000. Institutional investors and hedge funds own 93.95% of the company’s stock.
In other news, major shareholder Bain Capital Investors Llc sold 8,500,194 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $36.01, for a total value of $306,091,985.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Heather White sold 1,058 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $36.08, for a total transaction of $38,172.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,284,683 shares of company stock valued at $370,247,491. 1.86% of the stock is owned by corporate insiders.
Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Genpact had a net margin of 8.91% and a return on equity of 22.33%. The company had revenue of $809.21 million during the quarter, compared to analysts’ expectations of $764.50 million. During the same period in the previous year, the company earned $0.39 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts anticipate that Genpact Limited will post 1.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Wednesday, June 12th were given a dividend of $0.085 per share. The ex-dividend date was Tuesday, June 11th. This represents a $0.34 dividend on an annualized basis and a yield of 0.88%. Genpact’s dividend payout ratio (DPR) is 21.25%.
G has been the topic of a number of analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $36.00 price target on shares of Genpact in a research note on Sunday, March 3rd. Zacks Investment Research lowered Genpact from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Wells Fargo & Co upgraded shares of Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 price objective for the company in a research report on Friday, March 8th. ValuEngine upgraded shares of Genpact from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Finally, Needham & Company LLC initiated coverage on shares of Genpact in a research report on Friday, June 14th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.97.
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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