Seven Eight Capital LP Purchases Shares of 8,459 Genpact Limited (NYSE:G)

Seven Eight Capital LP acquired a new stake in shares of Genpact Limited (NYSE:G) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,459 shares of the business services provider’s stock, valued at approximately $279,000.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates raised its position in shares of Genpact by 160.1% in the 4th quarter. Raymond James & Associates now owns 275,195 shares of the business services provider’s stock worth $9,552,000 after buying an additional 169,389 shares during the period. Ellsworth Advisors LLC raised its holdings in shares of Genpact by 5.3% in the 4th quarter. Ellsworth Advisors LLC now owns 98,654 shares of the business services provider’s stock worth $3,424,000 after purchasing an additional 4,985 shares during the period. Gradient Investments LLC lifted its stake in shares of Genpact by 1.9% in the 4th quarter. Gradient Investments LLC now owns 420,317 shares of the business services provider’s stock valued at $14,589,000 after purchasing an additional 7,714 shares in the last quarter. JLB & Associates Inc. grew its holdings in shares of Genpact by 4.4% during the 4th quarter. JLB & Associates Inc. now owns 51,674 shares of the business services provider’s stock worth $1,794,000 after purchasing an additional 2,168 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Genpact during the 4th quarter worth approximately $1,651,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genpact

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

Analyst Upgrades and Downgrades

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

Genpact Price Performance

Shares of NYSE G opened at $33.52 on Thursday. 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 fifty-two week low of $29.41 and a fifty-two week high of $39.44. The business has a 50 day moving average price of $32.62 and a two-hundred day moving average price of $33.34. The firm has a market cap of $6.03 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.

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

Genpact Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a $0.1525 dividend. 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 1.82%. Genpact’s dividend payout ratio (DPR) is 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.