Genpact Limited (NYSE:G) Shares Acquired by Davis Capital Management

Davis Capital Management grew its holdings in Genpact Limited (NYSE:G) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,590 shares of the business services provider’s stock after acquiring an additional 1,011 shares during the quarter. Genpact accounts for approximately 1.1% of Davis Capital Management’s holdings, making the stock its 28th largest holding. Davis Capital Management’s holdings in Genpact were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of Genpact by 160.1% during the fourth quarter. Raymond James & Associates now owns 275,195 shares of the business services provider’s stock worth $9,552,000 after purchasing an additional 169,389 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Genpact by 328.8% during the fourth quarter. DAVENPORT & Co LLC now owns 133,239 shares of the business services provider’s stock worth $4,621,000 after purchasing an additional 102,169 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Genpact by 26.9% during the fourth quarter. Ballentine Partners LLC now owns 9,116 shares of the business services provider’s stock worth $316,000 after purchasing an additional 1,932 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Genpact by 10.2% during the fourth quarter. New York State Teachers Retirement System now owns 173,701 shares of the business services provider’s stock worth $6,029,000 after purchasing an additional 16,080 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Genpact by 39.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,415 shares of the business services provider’s stock worth $2,305,000 after purchasing an additional 18,917 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Buying and Selling at Genpact

In other news, Director N. V. Tyagarajan sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the transaction, the director now owns 7,300 shares of the company’s stock, valued at approximately $242,141. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on G shares. BMO Capital Markets decreased their price target on Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Citigroup decreased their price target on Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. raised Genpact from an “underweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $40.00 in a report on Wednesday, July 17th. Wedbush restated a “neutral” rating and issued a $35.00 price objective on shares of Genpact in a research report on Friday, May 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Genpact in a research report on Friday, May 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.63.

Genpact Price Performance

Shares of Genpact stock traded down $0.33 on Friday, reaching $33.85. The company’s stock had a trading volume of 768,883 shares, compared to its average volume of 924,003. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.36. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $38.51. The company has a market capitalization of $6.09 billion, a P/E ratio of 9.67, a PEG ratio of 1.60 and a beta of 1.11. The stock has a 50-day moving average price of $32.66 and a 200-day moving average price of $33.33.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Genpact had a return on equity of 22.71% and a net margin of 14.21%. Analysts expect that Genpact Limited will post 2.7 EPS for the current year.

Genpact Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be issued a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, September 11th. Genpact’s payout ratio is currently 17.43%.

About Genpact

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.