Genpact Limited (G) to Distribute Quarterly Dividend of $0.17 on June 30th

Genpact Limited (NYSE:G) declared a quarterly dividend on Friday, June 6th, RTT News reports. Stockholders of record on Wednesday, June 18th will be paid a dividend of 0.17 per share by the business services provider on Monday, June 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.58%.

Genpact has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Genpact to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 19.5%.

Genpact Stock Up 2.4%

Shares of NYSE:G opened at $43.09 on Friday. Genpact has a 52-week low of $30.38 and a 52-week high of $56.76. The firm has a market capitalization of $7.54 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.84 and a beta of 0.94. The stock has a 50 day moving average price of $45.98 and a 200-day moving average price of $47.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16.

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

Insiders Place Their Bets

In other news, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the transaction, the chief executive officer now directly owns 310,246 shares in the company, valued at $15,167,926.94. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nicholas C. Gangestad purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price 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 in the company, valued at approximately $87,940. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Genpact

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Genpact by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 511,627 shares of the business services provider’s stock worth $25,776,000 after buying an additional 56,557 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Genpact by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,074 shares of the business services provider’s stock worth $17,788,000 after buying an additional 60,887 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Genpact by 19.7% in the 1st quarter. Royal Bank of Canada now owns 121,705 shares of the business services provider’s stock worth $6,131,000 after buying an additional 20,043 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Genpact by 10.3% in the 1st quarter. Focus Partners Wealth now owns 5,227 shares of the business services provider’s stock worth $263,000 after buying an additional 488 shares during the last quarter. Finally, Amundi purchased a new position in shares of Genpact in the 1st quarter worth $58,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird reduced their price objective on Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Mizuho raised their price objective on Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Wall Street Zen raised Genpact from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Needham & Company LLC reduced their price objective on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Genpact presently has a consensus rating of “Moderate Buy” and an average target price of $50.71.

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.