Victory Capital Management Inc. Has $295.91 Million Position in Genpact Limited (NYSE:G)

Victory Capital Management Inc. grew its stake in Genpact Limited (NYSE:G) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,192,699 shares of the business services provider’s stock after purchasing an additional 9,577 shares during the period. Victory Capital Management Inc. owned about 5.11% of Genpact worth $295,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. ARGA Investment Management LP acquired a new position in Genpact in the 4th quarter valued at approximately $5,881,000. Russell Investments Group Ltd. increased its position in Genpact by 21.9% in the 1st quarter. Russell Investments Group Ltd. now owns 266,100 shares of the business services provider’s stock valued at $8,768,000 after acquiring an additional 47,754 shares during the period. Vanguard Group Inc. increased its position in Genpact by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock valued at $565,845,000 after acquiring an additional 218,526 shares during the period. Running Oak Capital LLC increased its position in Genpact by 19.6% in the 1st quarter. Running Oak Capital LLC now owns 241,438 shares of the business services provider’s stock valued at $7,955,000 after acquiring an additional 39,592 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Genpact by 48.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 216,081 shares of the business services provider’s stock valued at $7,500,000 after acquiring an additional 70,501 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Stock Down 2.0 %

G opened at $38.20 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89. The company’s 50-day moving average is $35.17 and its 200 day moving average is $33.65. Genpact Limited has a fifty-two week low of $29.41 and a fifty-two week high of $39.95. The firm has a market capitalization of $6.88 billion, a P/E ratio of 10.91, a PEG ratio of 1.64 and a beta of 1.11.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Research analysts expect that Genpact Limited will post 2.85 earnings per share for the current fiscal year.

Genpact Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be issued a dividend of $0.1525 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a yield of 1.60%. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on G shares. BMO Capital Markets increased their price objective on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Wedbush restated a “neutral” rating and issued a $35.00 price target on shares of Genpact in a report on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of Genpact from an “underweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $40.00 in a report on Wednesday, July 17th. Needham & Company LLC raised their price target on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, TD Cowen raised their price objective on shares of Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.25.

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.