Sumitomo Mitsui Trust Group Inc. Trims Holdings in Genpact Limited $G

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Genpact Limited (NYSE:G) by 99.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,478 shares of the business services provider’s stock after selling 2,583,674 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Genpact were worth $390,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Genpact by 90.9% in the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock worth $307,584,000 after purchasing an additional 3,131,643 shares in the last quarter. FIL Ltd lifted its stake in shares of Genpact by 114.4% during the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after buying an additional 2,562,484 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Genpact by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,010,764 shares of the business services provider’s stock valued at $234,409,000 after buying an additional 1,032,554 shares in the last quarter. Nalanda India Equity Fund Ltd boosted its holdings in Genpact by 8.0% in the 4th quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock worth $641,003,000 after buying an additional 1,015,556 shares during the period. Finally, Millennium Management LLC boosted its holdings in Genpact by 1,531.9% in the 4th quarter. Millennium Management LLC now owns 1,046,671 shares of the business services provider’s stock worth $48,963,000 after buying an additional 982,532 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Trading Up 3.9%

Shares of G opened at $31.23 on Friday. The stock has a market capitalization of $5.29 billion, a PE ratio of 9.58, a P/E/G ratio of 0.85 and a beta of 0.61. The company’s fifty day moving average is $30.57 and its 200 day moving average is $36.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.69 and a current ratio of 1.69. Genpact Limited has a fifty-two week low of $26.85 and a fifty-two week high of $48.64.

Genpact (NYSE:G) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.98 EPS for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. The business had revenue of $1.30 billion during the quarter. Sell-side analysts expect that Genpact Limited will post 3.64 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.4%. Genpact’s dividend payout ratio (DPR) is presently 23.01%.

Analysts Set New Price Targets

A number of brokerages have issued reports on G. TD Cowen cut their price target on Genpact from $47.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on Genpact in a research report on Friday, July 10th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Genpact in a research report on Friday, May 8th. Robert W. Baird decreased their target price on Genpact from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.25.

Genpact Profile

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.