Davis Capital Management Acquires 2,861 Shares of Genpact Limited (NYSE:G)

Davis Capital Management grew its holdings in shares of Genpact Limited (NYSE:GFree Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,579 shares of the business services provider’s stock after purchasing an additional 2,861 shares during the quarter. Genpact makes up 1.1% of Davis Capital Management’s investment portfolio, making the stock its 28th largest holding. Davis Capital Management’s holdings in Genpact were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Genpact by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,046,932 shares of the business services provider’s stock valued at $37,899,000 after purchasing an additional 16,689 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Genpact by 4.5% during the 3rd quarter. HighTower Advisors LLC now owns 10,939 shares of the business services provider’s stock valued at $402,000 after buying an additional 467 shares during the last quarter. UBS Group AG grew its stake in shares of Genpact by 1.6% during the 3rd quarter. UBS Group AG now owns 502,335 shares of the business services provider’s stock worth $18,185,000 after acquiring an additional 7,941 shares during the period. Paralel Advisors LLC increased its holdings in Genpact by 1.3% in the 3rd quarter. Paralel Advisors LLC now owns 41,425 shares of the business services provider’s stock worth $1,500,000 after acquiring an additional 517 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Genpact by 44.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,076 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 2,488 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on G. BMO Capital Markets cut their target price on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Wedbush reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Genpact in a report on Friday, May 10th. Citigroup reduced their price objective on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Genpact in a research report on Friday, May 10th. Finally, StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.00.

Get Our Latest Stock Report on G

Genpact Price Performance

Shares of Genpact stock traded down $0.09 during trading on Wednesday, hitting $31.05. The stock had a trading volume of 1,379,290 shares, compared to its average volume of 1,219,481. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. Genpact Limited has a 12 month low of $29.41 and a 12 month high of $39.58. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 1.46 and a beta of 1.12. The business’s 50-day moving average is $32.35 and its 200 day moving average is $33.74.

Genpact (NYSE:GGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. The firm had revenue of $1.13 billion for 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%. As a group, sell-side analysts anticipate that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be issued a $0.153 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, June 10th. Genpact’s payout ratio is 17.43%.

Genpact Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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