Paralel Advisors LLC Increases Stock Position in Genpact Limited (NYSE:G)

Paralel Advisors LLC raised its position in Genpact Limited (NYSE:G) by 67.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,276 shares of the business services provider’s stock after acquiring an additional 27,851 shares during the quarter. Paralel Advisors LLC’s holdings in Genpact were worth $2,230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Genpact by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,016 shares of the business services provider’s stock worth $37,244,000 after acquiring an additional 26,084 shares in the last quarter. Versor Investments LP lifted its holdings in shares of Genpact by 45.2% during the fourth quarter. Versor Investments LP now owns 21,716 shares of the business services provider’s stock valued at $754,000 after purchasing an additional 6,757 shares during the last quarter. BNP Paribas Financial Markets raised its position in Genpact by 689.4% in the 4th quarter. BNP Paribas Financial Markets now owns 80,815 shares of the business services provider’s stock worth $2,805,000 after buying an additional 70,578 shares during the last quarter. AGF Management Ltd. lifted its stake in Genpact by 3.0% during the 4th quarter. AGF Management Ltd. now owns 84,309 shares of the business services provider’s stock valued at $2,926,000 after acquiring an additional 2,448 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Genpact during the 4th quarter valued at about $1,656,000. 96.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on G. JPMorgan Chase & Co. increased their price target on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets increased their target price on Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Needham & Company LLC boosted their price target on Genpact from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, TD Cowen increased their price objective on shares of Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Genpact presently has an average rating of “Hold” and an average target price of $38.63.

Genpact Price Performance

NYSE G traded up $0.13 on Friday, reaching $38.33. The company had a trading volume of 2,549,917 shares, compared to its average volume of 1,387,810. The stock has a market capitalization of $6.90 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. Genpact Limited has a 12 month low of $29.41 and a 12 month high of $39.95. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average price is $35.29 and its 200 day moving average price is $33.65.

Genpact (NYSE:G) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, equities analysts predict that Genpact Limited will post 2.85 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. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, September 11th. Genpact’s payout ratio 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.