Dalton Investments Inc. Sells 23,596 Shares of Genpact Limited (NYSE:G)

Dalton Investments Inc. reduced its holdings in Genpact Limited (NYSE:G) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,180 shares of the business services provider’s stock after selling 23,596 shares during the quarter. Genpact accounts for 6.3% of Dalton Investments Inc.’s holdings, making the stock its 4th biggest position. Dalton Investments Inc. owned about 0.19% of Genpact worth $11,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Genpact by 21.9% in the 1st quarter. Russell Investments Group Ltd. now owns 266,100 shares of the business services provider’s stock valued at $8,768,000 after purchasing an additional 47,754 shares during the period. Vanguard Group Inc. increased its position in shares of Genpact by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock worth $565,845,000 after acquiring an additional 218,526 shares in the last quarter. Running Oak Capital LLC raised its holdings in shares of Genpact by 19.6% during the first quarter. Running Oak Capital LLC now owns 241,438 shares of the business services provider’s stock valued at $7,955,000 after acquiring an additional 39,592 shares during the period. Quantbot Technologies LP lifted its position in shares of Genpact by 30.8% in the 1st quarter. Quantbot Technologies LP now owns 122,874 shares of the business services provider’s stock valued at $4,049,000 after acquiring an additional 28,938 shares in the last quarter. Finally, Duality Advisers LP acquired a new position in Genpact in the 1st quarter worth approximately $2,725,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Stock Performance

G stock opened at $38.68 on Friday. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.62 and a beta of 1.13. The firm has a 50 day moving average of $36.71 and a two-hundred day moving average of $33.90. 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 12 month low of $29.41 and a 12 month high of $39.95.

Genpact (NYSE:G) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, equities analysts anticipate that Genpact Limited will post 2.85 EPS for the current fiscal 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 paid a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, September 11th. Genpact’s payout ratio is 17.43%.

Analyst Ratings Changes

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

Genpact Company 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.