Cornercap Investment Counsel Inc. Lowers Holdings in Genpact Limited (NYSE:G)

Cornercap Investment Counsel Inc. reduced its holdings in Genpact Limited (NYSE:G) by 42.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,014 shares of the business services provider’s stock after selling 6,759 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Genpact were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SRH Advisors LLC acquired a new position in shares of Genpact during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC purchased a new stake in shares of Genpact in the fourth quarter valued at $38,000. Smartleaf Asset Management LLC increased its stake in Genpact by 416.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 783 shares during the last quarter. UMB Bank n.a. lifted its position in Genpact by 55.7% during the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after buying an additional 433 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in Genpact by 38.8% in the 4th quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider’s stock worth $69,000 after buying an additional 453 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Trading Down 1.5 %

NYSE:G opened at $50.00 on Friday. The business’s 50-day moving average is $50.84 and its two-hundred day moving average is $45.07. The firm has a market capitalization of $8.78 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $56.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85.

Genpact (NYSE:G) last announced its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. Research analysts predict that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 11th. Genpact’s dividend payout ratio (DPR) is presently 23.94%.

Insider Buying and Selling at Genpact

In other news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the transaction, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. This represents a 7.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the sale, the chief executive officer now directly owns 310,246 shares of the company’s stock, valued at $15,167,926.94. The trade was a 4.20 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on G. Mizuho increased their price objective on shares of Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC lifted their price target on shares of Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $55.00 in a report on Tuesday, January 21st. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $60.00 in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.44.

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.