Davis Capital Management Has $1.27 Million Stock Holdings in Genpact Limited (NYSE:G)

Davis Capital Management lifted its holdings in Genpact Limited (NYSE:G) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. 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 comprises about 1.1% of Davis Capital Management’s investment portfolio, making the stock its 28th largest position. Davis Capital Management’s holdings in Genpact were worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in shares of Genpact in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in Genpact by 106.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 471 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Genpact during the fourth quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV boosted its holdings in Genpact by 120.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 989 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Genpact by 22.6% during the fourth quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 347 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Genpact

In other Genpact news, Director N. V. Tyagarajan sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were 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 in the company, valued at approximately $242,141. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Genpact Price Performance

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

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Genpact had a net margin of 14.21% and a return on equity of 22.71%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. As a group, equities analysts predict that Genpact Limited will post 2.7 earnings per share for the current 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 given 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 dividend payout ratio (DPR) is presently 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.