Renaissance Technologies LLC Sells 138,800 Shares of Genpact Limited (NYSE:G)

Renaissance Technologies LLC lessened its position in Genpact Limited (NYSE:G) by 95.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the business services provider’s stock after selling 138,800 shares during the period. Renaissance Technologies LLC’s holdings in Genpact were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of G. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 47,754 shares during the period. Vanguard Group Inc. increased its holdings 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 valued at $565,845,000 after purchasing an additional 218,526 shares during the last quarter. Running Oak Capital LLC raised its position in shares of Genpact by 19.6% in 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 purchasing an additional 39,592 shares during the period. Quantbot Technologies LP lifted its stake in shares of Genpact by 30.8% during the 1st quarter. Quantbot Technologies LP now owns 122,874 shares of the business services provider’s stock worth $4,049,000 after buying an additional 28,938 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Genpact during the 1st quarter worth about $2,725,000. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Performance

Genpact stock opened at $38.96 on Friday. The business has a 50 day moving average of $38.25 and a 200-day moving average of $34.50. The company has a market capitalization of $7.01 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.63 and a beta of 1.13. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $39.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Genpact had a return on equity of 22.28% and a net margin of 14.12%. On average, equities research analysts predict that Genpact Limited will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on G shares. Robert W. Baird lifted their price objective on shares of Genpact from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of 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 increased 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. BMO Capital Markets lifted their price objective 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 increased their target price on Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Genpact currently has a consensus rating of “Hold” and a consensus price target of $39.44.

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.