Vulcan Value Partners LLC Sells 321,529 Shares of Genpact Limited (NYSE:G)

Key Points

• Vulcan Value Partners LLC has decreased its stake in Genpact Limited by 29.6%, now holding approximately 765,615 shares valued at about $38.57 million.
• Several other institutional investors have recently increased their positions in Genpact, with Envestnet Portfolio Solutions Inc. boosting its stake by 59.2% in the first quarter.
• Genpact's quarterly earnings report showed an EPS of $0.84, exceeding analysts' expectations, and the company declared a quarterly dividend of $0.17 per share with a yield of 1.5%.

Vulcan Value Partners LLC lowered its position in Genpact Limited (NYSE:G - Free Report) by 29.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 765,615 shares of the business services provider's stock after selling 321,529 shares during the quarter. Genpact makes up about 0.7% of Vulcan Value Partners LLC's investment portfolio, making the stock its 25th largest holding. Vulcan Value Partners LLC owned 0.44% of Genpact worth $38,572,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Genpact by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,848,449 shares of the business services provider's stock worth $165,288,000 after purchasing an additional 208,759 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Genpact by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 3,825,344 shares of the business services provider's stock valued at $170,175,000 after purchasing an additional 133,938 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Genpact during the 1st quarter worth $115,807,000. Tandem Investment Advisors Inc. raised its stake in Genpact by 6.6% during the first quarter. Tandem Investment Advisors Inc. now owns 2,270,143 shares of the business services provider's stock worth $114,370,000 after acquiring an additional 140,228 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Genpact in the fourth quarter worth about $90,516,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Genpact Trading Down 3.7%

Shares of NYSE G traded down $1.61 during midday trading on Friday, reaching $42.44. The stock had a trading volume of 2,685,928 shares, compared to its average volume of 1,186,237. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. Genpact Limited has a twelve month low of $32.18 and a twelve month high of $56.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45. The company's 50 day moving average price is $43.97 and its 200 day moving average price is $47.19.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Genpact had a net margin of 10.88% and a return on equity of 22.35%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 EPS. As a group, sell-side analysts expect that Genpact Limited will post 3.21 EPS for the current year.

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, September 11th. Genpact's payout ratio is presently 23.21%.

Insider Activity

In related news, Director Nicholas C. Gangestad bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average price of $43.97 per share, for a total transaction of $87,940.00. Following the transaction, the director directly owned 2,000 shares of the company's stock, valued at approximately $87,940. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on G. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genpact in a research note on Thursday, July 17th. They issued a "hold" rating and a $47.00 price objective for the company. Mizuho increased their price target on Genpact from $48.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Genpact in a research note on Monday, June 30th. Robert W. Baird dropped their price target on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.75.

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.