Renaissance Technologies LLC Lowers Stock Holdings in Genpact Limited $G

Key Points

• Renaissance Technologies reduced its Genpact stake by 17.6% in the first quarter, selling 94,200 shares and retaining 441,800 shares valued at approximately $16.5 million. Institutional investors collectively own 96.03% of Genpact.
• Genpact reported quarterly revenue of $1.30 billion and earnings of $0.98 per share, while analysts expect full-year EPS of $3.64. The company also declared a quarterly dividend of $0.1875, equivalent to a 2.1% annual yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $40.25. Genpact shares opened at $35.40, below the consensus target and down 3.6%.

Renaissance Technologies LLC cut its stake in shares of Genpact Limited (NYSE:G - Free Report) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 441,800 shares of the business services provider's stock after selling 94,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.26% of Genpact worth $16,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Genpact by 19.7% during the 1st quarter. Royal Bank of Canada now owns 121,705 shares of the business services provider's stock worth $6,131,000 after purchasing an additional 20,043 shares during the period. Amundi bought a new position in Genpact during the 1st quarter worth about $58,000. Goldman Sachs Group Inc. increased its position in Genpact by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,074 shares of the business services provider's stock valued at $17,788,000 after purchasing an additional 60,887 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Genpact by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 511,627 shares of the business services provider's stock worth $25,776,000 after purchasing an additional 56,557 shares during the period. Finally, Focus Partners Wealth increased its holdings in Genpact by 10.3% during the first quarter. Focus Partners Wealth now owns 5,227 shares of the business services provider's stock valued at $263,000 after buying an additional 488 shares during the period. Institutional investors own 96.03% of the company's stock.

Genpact Stock Down 3.6%

NYSE:G opened at $35.40 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Genpact Limited has a twelve month low of $26.85 and a twelve month high of $48.64. The company has a market cap of $6.00 billion, a PE ratio of 10.86, a P/E/G ratio of 1.04 and a beta of 0.61. The company's 50 day moving average is $30.83 and its two-hundred day moving average is $35.61.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.98 earnings per share for the quarter. The firm had revenue of $1.30 billion for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. Analysts anticipate that Genpact Limited will post 3.64 EPS for the current year.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors 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 yield of 2.1%. Genpact's dividend payout ratio is currently 23.01%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on G. Susquehanna dropped their target price on Genpact from $42.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. TD Cowen cut their target price on Genpact from $47.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Genpact in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Genpact in a research report on Friday, July 10th. Finally, Mizuho reduced their price target on Genpact from $49.00 to $39.00 and set a "neutral" rating on the stock in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.25.

Genpact Company 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.

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