Pitcairn Co. Decreases Stock Position in Genpact Limited (NYSE:G)

Pitcairn Co. cut its holdings in Genpact Limited (NYSE:G) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,521 shares of the business services provider’s stock after selling 968 shares during the period. Pitcairn Co.’s holdings in Genpact were worth $347,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new position in shares of Genpact during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 471 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Genpact in the fourth quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Genpact by 120.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after acquiring an additional 989 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Genpact by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock worth $65,000 after acquiring an additional 347 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Stock Performance

NYSE G traded up $0.59 during trading hours on Thursday, reaching $34.11. The stock had a trading volume of 782,306 shares, compared to its average volume of 1,437,533. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $39.44. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $6.14 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. The stock has a fifty day moving average of $32.62 and a 200 day moving average of $33.34.

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

Genpact Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be issued a $0.1525 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a yield of 1.79%. Genpact’s payout ratio is 17.43%.

Analysts Set New Price Targets

G has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Genpact in a report on Friday, May 10th. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. BMO Capital Markets reduced their price target on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of Genpact from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $40.00 in a research note on Wednesday, July 17th. Finally, 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.63.

Insiders Place Their Bets

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

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.