Lazard Asset Management LLC boosted its holdings in shares of Genpact Limited (NYSE:G – Free Report) by 26.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561,622 shares of the business services provider’s stock after acquiring an additional 117,154 shares during the period. Lazard Asset Management LLC’s holdings in Genpact were worth $20,920,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Osbon Capital Management LLC purchased a new stake in Genpact in the fourth quarter worth about $25,000. iSAM Funds UK Ltd purchased a new position in shares of Genpact during the third quarter valued at approximately $29,000. Johnson Financial Group Inc. purchased a new position in shares of Genpact during the third quarter valued at approximately $29,000. V Square Quantitative Management LLC purchased a new position in shares of Genpact during the fourth quarter valued at approximately $30,000. Finally, Larson Financial Group LLC boosted its position in shares of Genpact by 428.4% in the 4th quarter. Larson Financial Group LLC now owns 708 shares of the business services provider’s stock worth $33,000 after purchasing an additional 574 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on G. Mizuho cut their price target on Genpact from $49.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Citigroup lowered their price objective on Genpact from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. TD Cowen dropped their target price on Genpact from $47.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $31.00 target price on Genpact in a research note on Friday, July 10th. Finally, Susquehanna reduced their price target on Genpact from $42.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Genpact has an average rating of “Hold” and an average price target of $40.25.
Genpact Trading Up 7.6%
NYSE:G opened at $34.61 on Wednesday. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.91 and a beta of 0.61. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $30.67 and its 200-day moving average price is $35.78. Genpact Limited has a 52 week low of $26.85 and a 52 week high of $48.64.
Genpact (NYSE:G – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.98 earnings per share for the quarter. The company had revenue of $1.30 billion during the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. On average, equities research analysts forecast that Genpact Limited will post 3.64 earnings per share for the current fiscal year.
Genpact Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.2%. Genpact’s payout ratio is currently 23.01%.
About Genpact
Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.
Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.
Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.
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