Truist Financial Corp Purchases 570,760 Shares of Genpact Limited (NYSE:G)

Truist Financial Corp raised its position in shares of Genpact Limited (NYSE:G) by 162.9% in the fourth quarter, HoldingsChannel reports. The firm owned 921,160 shares of the business services provider’s stock after acquiring an additional 570,760 shares during the period. Truist Financial Corp’s holdings in Genpact were worth $31,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of G. GAMMA Investing LLC bought a new position in shares of Genpact in the 4th quarter worth $43,000. Covestor Ltd grew its stake in Genpact by 140.2% during the 3rd quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after buying an additional 904 shares during the last quarter. Buck Wealth Strategies LLC grew its stake in Genpact by 438.3% during the 3rd quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 1,486 shares during the last quarter. Lindbrook Capital LLC grew its stake in Genpact by 32.0% during the 3rd quarter. Lindbrook Capital LLC now owns 2,604 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 632 shares during the last quarter. Finally, Flynn Zito Capital Management LLC purchased a new stake in Genpact during the 4th quarter valued at about $206,000. 96.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on G. StockNews.com downgraded Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Mizuho began coverage on Genpact in a research note on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of Genpact in a research note on Friday, February 9th. Citigroup dropped their price target on Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Genpact has a consensus rating of “Hold” and an average target price of $39.78.

Genpact Stock Performance

Shares of G stock opened at $30.90 on Monday. The stock has a market cap of $5.57 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The business has a 50-day simple moving average of $33.07 and a 200-day simple moving average of $34.08. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $44.63.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Genpact had a return on equity of 23.19% and a net margin of 14.10%. On average, equities analysts expect that Genpact Limited will post 2.7 EPS for the current year.

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were issued a $0.153 dividend. This is a boost from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 8th. This represents a $0.61 dividend on an annualized basis and a yield of 1.98%. Genpact’s dividend payout ratio is presently 17.78%.

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.