NEW YORK - Global professional services firm Genpact (NYSE: G) has announced the immediate appointment of Jinsook Han as its new Chief Strategy and Corporate Development Officer. Han will be taking charge of the company's strategic planning and growth initiatives, including ventures and acquisitions, and will report directly to Genpact President and CEO, Balkrishan "BK" Kalra.
Han brings a wealth of experience to Genpact, having previously served as a partner at PwC, where she focused on Cloud, Engineering, Data & AI. She has also held the position of Chief Strategy Officer for Accenture (NYSE:ACN)'s Applied Intelligence Business and has experience in executive strategy and technology roles at AIG (NYSE:AIG) and McKinsey & Company. Her academic credentials include a Bachelor's degree from Virginia Tech, an MBA from Kellogg (NYSE:K) School of Management, and executive education from Harvard Business School and The Wharton School of Business. Han is also a Certified Public Accountant.
In welcoming Han to the team, CEO Kalra highlighted her unique blend of expertise in data, analytics, AI, and M&A, which he believes will be instrumental in driving shareholder value and fostering team collaboration. Han expressed her eagerness to identify and execute high-impact opportunities that will enhance Genpact's capabilities and expand its partnership ecosystem.
Genpact, known for its digital operations services and deep industry knowledge, employs over 125,000 people in more than 30 countries. The firm aims to drive value for clients, including those within the Fortune Global 500, by leveraging its expertise in data, technology, and artificial intelligence.
This strategic hire is based on a press release statement and reflects Genpact's continued focus on growth and transformation within the industry.
In other recent news, Genpact Ltd (NYSE:G). reported robust third-quarter results, with revenues reaching $1.21 billion, a 7% increase from the previous year. This growth was driven by a 9% rise in Data-Tech-AI and a 5% increase in Digital Operations. In light of these developments, Genpact has raised its full-year revenue and EPS guidance. The new revenue forecast stands at approximately $4.740 billion to $4.751 billion, while the adjusted EPS has been increased to $3.24.
Following the company's strong performance, Mizuho (NYSE:MFG) increased its stock price target for Genpact to $45.00, up from $40.00, while maintaining a neutral stance. This adjustment reflects a more optimistic view of Genpact's financial performance, taking into account the recent upward revisions to the company's guidance. However, Mizuho expressed concerns about Genpact's significant exposure to the traditional business process outsourcing sector and a potential slowdown in the fourth quarter of 2024.
Despite these concerns, Genpact reported a 43% booking growth for the quarter, with 21 new logos and three large deals over $50 million. The company also expects a 6% revenue growth for 2024, up from the initial forecast of 4.5%. Despite a slight decrease in sole-sourced deals from 45% to 42%, Genpact remains optimistic about its strategic direction and market positioning.
InvestingPro Insights
Genpact's appointment of Jinsook Han as Chief Strategy and Corporate Development Officer comes at a time when the company is showing strong financial performance and market positioning. According to InvestingPro data, Genpact boasts a market capitalization of $8.22 billion and a P/E ratio of 12.59, indicating a potentially undervalued stock relative to its earnings.
The company's focus on growth and transformation is reflected in its financial metrics. Genpact has demonstrated a revenue growth of 5.22% over the last twelve months, with quarterly revenue growth of 6.62% in Q3 2024. This growth trajectory aligns well with Han's mandate to drive strategic planning and growth initiatives.
InvestingPro Tips highlight Genpact's strong market position and financial health. The company is recognized as a prominent player in the Professional Services industry, which is particularly relevant given Han's extensive experience in this sector. Additionally, Genpact operates with a moderate level of debt and has liquid assets exceeding short-term obligations, providing a solid foundation for future growth and potential acquisitions under Han's leadership.
Investors may find it encouraging that Genpact has raised its dividend for 8 consecutive years, with a current dividend yield of 1.31%. This demonstrates the company's commitment to returning value to shareholders, which could be further enhanced by Han's strategic initiatives.
The stock has shown significant momentum, with a 19.76% price return over the last month and a 41.74% return over the past six months. This positive trend, coupled with the fact that 7 analysts have revised their earnings upwards for the upcoming period, suggests growing confidence in Genpact's future performance.
For readers interested in a more comprehensive analysis, InvestingPro offers 16 additional tips for Genpact, providing a deeper understanding of the company's potential and market position.
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