Genpact Limited $G Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Genpact Limited (NYSE:G) by 17.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 441,800 shares of the business services provider’s stock after selling 94,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Genpact were worth $16,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nalanda India Equity Fund Ltd increased its holdings in Genpact by 8.0% in the fourth quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock valued at $641,003,000 after buying an additional 1,015,556 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Genpact by 90.9% during the 4th quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock worth $307,584,000 after acquiring an additional 3,131,643 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Genpact by 12.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,609,641 shares of the business services provider’s stock valued at $208,965,000 after acquiring an additional 598,877 shares during the period. FIL Ltd increased its stake in shares of Genpact by 114.4% in the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after purchasing an additional 2,562,484 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Genpact by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,330,116 shares of the business services provider’s stock worth $210,391,000 after purchasing an additional 107,870 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on G. TD Cowen cut their price objective on Genpact from $47.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price target on shares of Genpact in a research note on Friday, July 10th. Robert W. Baird decreased their price objective on shares of Genpact from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 7th. Susquehanna dropped their target price on shares of Genpact from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.25.

Genpact Price Performance

Shares of NYSE G opened at $35.40 on Friday. The firm has a 50-day simple moving average of $30.83 and a 200-day simple moving average of $35.61. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.04 and a beta of 0.61. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.47. Genpact Limited has a 52 week low of $26.85 and a 52 week high of $48.64.

Genpact (NYSE:G) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $0.98 earnings per share for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. The firm had revenue of $1.30 billion for the quarter. On average, equities analysts predict that Genpact Limited will post 3.64 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.1%. Genpact’s dividend payout ratio is 23.01%.

Genpact Profile

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.