47,552 Shares in Genpact Limited (NYSE:G) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new position in Genpact Limited (NYSE:G) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,552 shares of the business services provider’s stock, valued at approximately $2,396,000.

A number of other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Genpact by 83.7% in the 1st quarter. SG Americas Securities LLC now owns 10,175 shares of the business services provider’s stock worth $513,000 after buying an additional 4,637 shares during the last quarter. GAMMA Investing LLC boosted its stake in Genpact by 88.0% in the first quarter. GAMMA Investing LLC now owns 9,744 shares of the business services provider’s stock worth $491,000 after buying an additional 4,561 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Genpact during the first quarter valued at approximately $272,000. Park Avenue Securities LLC bought a new position in shares of Genpact during the first quarter valued at approximately $1,755,000. Finally, UMB Bank n.a. raised its holdings in Genpact by 66.2% in the first quarter. UMB Bank n.a. now owns 2,011 shares of the business services provider’s stock worth $101,000 after purchasing an additional 801 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at approximately $87,940. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Genpact Stock Performance

NYSE G opened at $44.03 on Tuesday. The company has a market capitalization of $7.70 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $45.54 and its 200 day moving average price is $47.12. Genpact Limited has a twelve month low of $30.38 and a twelve month high of $56.76.

Genpact (NYSE:G) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. On average, research analysts predict that Genpact Limited will post 3.21 earnings per share for the current year.

Genpact Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 18th. Genpact’s dividend payout ratio is currently 23.21%.

Genpact Profile

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.