Genpact (NYSE:G) Shares Gap Up After Dividend Announcement

Genpact Limited (NYSE:G)’s share price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $49.40, but opened at $54.93. Genpact shares last traded at $55.20, with a volume of 750,294 shares trading hands.

The newly announced dividend which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, March 11th. Genpact’s payout ratio is 16.76%.

Analysts Set New Price Targets

A number of research firms have commented on G. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and raised their target price for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Robert W. Baird raised their price objective on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC upped their target price on shares of Genpact from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and increased their target price for the company from $45.00 to $60.00 in a report on Friday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Genpact has an average rating of “Hold” and an average target price of $47.63.

Genpact Stock Up 11.3 %

The firm has a 50 day moving average price of $44.92 and a two-hundred day moving average price of $41.15. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50.

Genpact (NYSE:G) last posted its earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 14.22% and a return on equity of 21.85%. On average, equities analysts expect that Genpact Limited will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Genpact

In other news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Balkrishan Kalra sold 9,000 shares of Genpact stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.40, for a total value of $417,600.00. Following the completion of the transaction, the chief executive officer now owns 267,404 shares of the company’s stock, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $1,558,675 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Genpact

A number of institutional investors and hedge funds have recently made changes to their positions in G. Victory Capital Management Inc. boosted its stake in Genpact by 18.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after purchasing an additional 1,511,790 shares during the period. Franklin Resources Inc. raised its holdings in shares of Genpact by 6.5% during the third quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after buying an additional 252,674 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Genpact by 12.6% during the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock worth $148,142,000 after buying an additional 413,646 shares during the period. JPMorgan Chase & Co. grew its holdings in Genpact by 192.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after buying an additional 2,060,595 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its holdings in Genpact by 390.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock worth $91,480,000 after buying an additional 1,695,706 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

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.