PNC Financial Services Group Inc. Acquires 495 Shares of Genpact Limited (NYSE:G)

Posted by Defense World Staff on Jun 6th, 2023

PNC Financial Services Group Inc. raised its holdings in Genpact Limited (NYSE:G – Get Rating) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,921 shares of the business services provider’s stock after buying an additional 495 shares during the period. PNC Financial Services Group Inc.’s holdings in Genpact were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in G. BlackRock Inc. grew its stake in Genpact by 4.7% in the 3rd quarter. BlackRock Inc. now owns 15,874,699 shares of the business services provider’s stock valued at $694,834,000 after buying an additional 710,454 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Genpact by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 8,699,314 shares of the business services provider’s stock worth $402,986,000 after acquiring an additional 73,667 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Genpact by 4.2% during the third quarter. Alliancebernstein L.P. now owns 5,416,818 shares of the business services provider’s stock worth $237,094,000 after acquiring an additional 218,978 shares during the period. State Street Corp boosted its holdings in shares of Genpact by 1.8% during the third quarter. State Street Corp now owns 4,340,982 shares of the business services provider’s stock worth $190,005,000 after acquiring an additional 74,711 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Genpact by 101.8% during the first quarter. Capital International Investors now owns 3,963,229 shares of the business services provider’s stock worth $172,440,000 after acquiring an additional 1,999,617 shares during the period. 95.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

G has been the subject of a number of research analyst reports. StockNews.com started coverage on Genpact in a report on Thursday, May 18th. They set a “buy” rating for the company. Jefferies Financial Group cut their price objective on shares of Genpact from $47.00 to $41.00 in a report on Monday, May 15th. Citigroup lowered their target price on shares of Genpact from $54.00 to $46.00 in a report on Thursday, May 11th. Robert W. Baird cut their price target on Genpact from $54.00 to $48.00 in a research note on Thursday, May 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of Genpact in a research report on Friday, February 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Genpact Stock Performance

Shares of NYSE:G opened at $37.38 on Tuesday. Genpact Limited has a 1 year low of $35.75 and a 1 year high of $48.85. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50 day simple moving average is $41.61 and its 200 day simple moving average is $44.60.

Genpact (NYSE:G – Get Rating) last issued its earnings results on Wednesday, May 10th. The business services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Genpact had a return on equity of 25.74% and a net margin of 8.27%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. As a group, research analysts predict that Genpact Limited will post 2.59 EPS for the current fiscal year.

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Friday, June 9th will be issued a $0.1375 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.47%. Genpact’s dividend payout ratio (DPR) is currently 28.35%.

Insider Activity

In other Genpact news, SVP Piyush Mehta sold 32,500 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $43.85, for a total transaction of $1,425,125.00. Following the sale, the senior vice president now owns 209,040 shares of the company’s stock, valued at $9,166,404. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO N. V. Tyagarajan sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $44.87, for a total value of $2,243,500.00. Following the completion of the transaction, the chief executive officer now owns 805,509 shares of the company’s stock, valued at $36,143,188.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Piyush Mehta sold 32,500 shares of Genpact stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $43.85, for a total transaction of $1,425,125.00. Following the sale, the senior vice president now owns 209,040 shares in the company, valued at $9,166,404. The disclosure for this sale can be found here. In the last three months, insiders have sold 358,144 shares of company stock worth $14,904,645. Corporate insiders own 2.62% of the company’s stock.

Genpact Company Profile

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Genpact Ltd. engages in the business process management, outsourcing, shared services and information outsourcing. The company operates through the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences, and Healthcare (CGRLH) and High Tech, Manufacturing, and Services (HMS).

Institutional Ownership by Quarter for Genpact (NYSE:G)

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