Genpact (NYSE:G) Hits New 1-Year High at $38.17

Genpact Limited (NYSE:G)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $38.17 and last traded at $38.17, with a volume of 46242 shares trading hands. The stock had previously closed at $37.57.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on G. TD Cowen raised their price target on Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upgraded Genpact from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $40.00 in a report on Wednesday, July 17th. Needham & Company LLC upped their price target on Genpact from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup reduced their price objective on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.25.

Genpact Stock Up 1.5 %

The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.54. The firm’s fifty day simple moving average is $32.95 and its 200 day simple moving average is $33.28.

Genpact Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be issued a dividend of $0.1525 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.60%. Genpact’s payout ratio is 17.43%.

Insider Buying and Selling at Genpact

In other news, Director N. V. Tyagarajan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total transaction of $33,170.00. Following the completion of the transaction, the director now directly owns 7,300 shares of the company’s stock, valued at approximately $242,141. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Genpact

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP boosted its stake in Genpact by 290.8% in the 4th quarter. First Trust Advisors LP now owns 3,071,231 shares of the business services provider’s stock valued at $106,602,000 after purchasing an additional 2,285,310 shares during the period. Norges Bank bought a new stake in shares of Genpact in the fourth quarter valued at about $68,683,000. Capital International Investors grew its stake in shares of Genpact by 51.8% in the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after acquiring an additional 1,053,236 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Genpact by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after acquiring an additional 847,249 shares during the period. Finally, FIL Ltd raised its stake in Genpact by 16.8% in the 4th quarter. FIL Ltd now owns 5,041,842 shares of the business services provider’s stock worth $175,002,000 after purchasing an additional 725,198 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Genpact Company 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.