Truist Financial Corp Sells 856,741 Shares of Genpact Limited (NYSE:G)

Truist Financial Corp lowered its position in Genpact Limited (NYSE:G) by 68.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 403,529 shares of the business services provider’s stock after selling 856,741 shares during the period. Truist Financial Corp’s holdings in Genpact were worth $12,990,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in G. CWM LLC grew its holdings in Genpact by 160.8% in the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock worth $31,000 after purchasing an additional 587 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Genpact by 120.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock valued at $60,000 after buying an additional 989 shares in the last quarter. Parallel Advisors LLC increased its position in Genpact by 22.6% in the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after buying an additional 347 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Genpact by 4,717.8% in the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Quarry LP grew its stake in Genpact by 530.1% in the fourth quarter. Quarry LP now owns 2,073 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 1,744 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Stock Up 0.9 %

Shares of NYSE:G opened at $39.62 on Friday. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $39.95. The company has a market capitalization of $7.13 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The business has a fifty day moving average price of $37.80 and a two-hundred day moving average price of $34.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Genpact had a net margin of 14.12% and a return on equity of 22.28%. Analysts forecast that Genpact Limited will post 2.85 earnings per share for the current year.

Genpact Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were issued a $0.1525 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.54%. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on G. Jefferies Financial Group upped their target price on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC boosted their target price on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets raised their price target on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, TD Cowen raised their target price on Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.78.

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.