Davis Capital Management Reduces Holdings in Genpact Limited (NYSE:G)

Davis Capital Management decreased its holdings in shares of Genpact Limited (NYSE:G) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 41,123 shares of the business services provider’s stock after selling 652 shares during the period. Genpact makes up approximately 1.4% of Davis Capital Management’s investment portfolio, making the stock its 18th largest holding. Davis Capital Management’s holdings in Genpact were worth $1,766,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of G. JPMorgan Chase & Co. boosted its position in Genpact by 192.8% in the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock valued at $122,701,000 after buying an additional 2,060,595 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Genpact by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after buying an additional 847,249 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Genpact in the third quarter valued at approximately $19,779,000. Tandem Investment Advisors Inc. purchased a new stake in Genpact in the third quarter valued at approximately $17,025,000. Finally, Geode Capital Management LLC boosted its position in Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after buying an additional 413,646 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Stock Up 2.3 %

Shares of NYSE:G opened at $46.17 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $44.41 and a two-hundred day moving average of $39.87. The stock has a market cap of $8.14 billion, a P/E ratio of 12.68, a PEG ratio of 1.49 and a beta of 1.18. Genpact Limited has a 52-week low of $30.23 and a 52-week high of $47.98.

Genpact (NYSE:G) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Genpact had a return on equity of 21.85% and a net margin of 14.22%. During the same period in the prior year, the business earned $0.67 EPS. On average, research analysts expect that Genpact Limited will post 2.95 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird upped their target price on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. 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 research report on Tuesday. TD Cowen upped their price objective on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC upped their price objective on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Genpact currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the transaction, the chief executive officer now directly owns 267,404 shares in the company, valued at approximately $12,407,545.60. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Piyush Mehta sold 12,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $1,558,675 in the last three months. 2.80% of the stock is owned by corporate insiders.

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.