Davis Capital Management Increases Stock Position in Genpact Limited (NYSE:G)

Davis Capital Management boosted its holdings in shares of Genpact Limited (NYSE:G) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,775 shares of the business services provider’s stock after buying an additional 2,185 shares during the quarter. Genpact makes up approximately 1.3% of Davis Capital Management’s investment portfolio, making the stock its 25th biggest holding. Davis Capital Management’s holdings in Genpact were worth $1,638,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of Genpact by 160.8% in the 2nd quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 587 shares during the period. Massmutual Trust Co. FSB ADV increased its position in 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 valued at $60,000 after buying an additional 989 shares in the last quarter. Parallel Advisors LLC raised its stake in Genpact by 22.6% in the fourth quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after buying an additional 347 shares during the last quarter. Quarry LP boosted its holdings in Genpact by 530.1% in the fourth quarter. Quarry LP now owns 2,073 shares of the business services provider’s stock worth $72,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Genpact by 4,717.8% during the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock worth $70,000 after acquiring an additional 2,123 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

Shares of Genpact stock opened at $39.26 on Thursday. The firm has a market cap of $7.07 billion, a PE ratio of 11.22, a P/E/G ratio of 1.63 and a beta of 1.13. The business has a 50-day moving average price of $37.48 and a 200 day moving average price of $34.15. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.52. Genpact Limited has a twelve month low of $29.41 and a twelve month high of $39.95.

Genpact (NYSE:G) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share (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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Sell-side analysts predict that Genpact Limited will post 2.85 earnings per share for the current fiscal year.

Genpact Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a dividend of $0.1525 per share. The ex-dividend date was Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.55%. Genpact’s payout ratio is currently 17.43%.

Analyst Ratings Changes

G has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their target price on shares of Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Jefferies Financial Group lifted their price target on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, TD Cowen raised their price objective on Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.78.

Genpact Profile

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.