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

Truist Financial Corp increased its position in Genpact Limited (NYSE:G) by 162.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 921,160 shares of the business services provider’s stock after purchasing an additional 570,760 shares during the period. Truist Financial Corp owned approximately 0.51% of Genpact worth $31,973,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new stake in Genpact in the 4th quarter valued at $1,122,000. Old Well Partners LLC increased its position in shares of Genpact by 10.8% during the 3rd quarter. Old Well Partners LLC now owns 135,731 shares of the business services provider’s stock valued at $4,913,000 after purchasing an additional 13,200 shares during the last quarter. Greenhaven Associates Inc. purchased a new stake in shares of Genpact during the 4th quarter valued at $10,510,000. Earnest Partners LLC increased its position in shares of Genpact by 128,860.6% during the 3rd quarter. Earnest Partners LLC now owns 42,557 shares of the business services provider’s stock valued at $1,541,000 after purchasing an additional 42,524 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Genpact during the 4th quarter valued at $1,651,000. 96.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. 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 cut their price target on Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Finally, Mizuho initiated coverage on Genpact in a research note on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.78.

Genpact Stock Up 0.7 %

Shares of NYSE G opened at $30.90 on Monday. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $44.63. The business has a 50-day simple moving average of $33.07 and a two-hundred 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. The company has a market cap of $5.57 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.45 and a beta of 1.07.

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

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were given a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio (DPR) is 17.78%.

Genpact 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.