Cornercap Investment Counsel Inc. Invests $1.12 Million in Genpact Limited (NYSE:G)

Cornercap Investment Counsel Inc. acquired a new stake in Genpact Limited (NYSE:G - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,329 shares of the business services provider's stock, valued at approximately $1,122,000.

Other institutional investors have also modified their holdings of the company. Fred Alger Management LLC grew its stake in shares of Genpact by 136.7% in the fourth quarter. Fred Alger Management LLC now owns 878 shares of the business services provider's stock valued at $41,000 after buying an additional 507 shares in the last quarter. Janiczek Wealth Management LLC acquired a new stake in shares of Genpact in the third quarter valued at $48,000. Covestor Ltd boosted its holdings in Genpact by 140.2% in the third quarter. Covestor Ltd now owns 1,549 shares of the business services provider's stock valued at $56,000 after purchasing an additional 904 shares during the period. Buck Wealth Strategies LLC boosted its holdings in Genpact by 438.3% in the third quarter. Buck Wealth Strategies LLC now owns 1,825 shares of the business services provider's stock valued at $66,000 after purchasing an additional 1,486 shares during the period. Finally, State of Wyoming purchased a new position in Genpact in the fourth quarter valued at $66,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on G. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 target price on shares of Genpact in a report on Friday, February 9th. JPMorgan Chase & Co. lifted their target price on Genpact from $42.00 to $43.00 and gave the company an "underweight" rating in a report on Friday, February 9th. Mizuho began coverage on Genpact in a report on Tuesday, January 30th. They issued a "neutral" rating and a $40.00 target price for the company. StockNews.com lowered Genpact from a "strong-buy" rating to a "buy" rating in a report on Friday, April 5th. Finally, Citigroup lifted their price target on Genpact from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Genpact presently has a consensus rating of "Hold" and an average target price of $40.11.

Insider Activity

In other news, SVP Heather White sold 11,450 shares of the business's stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $36.00, for a total value of $412,200.00. Following the completion of the sale, the senior vice president now directly owns 21,175 shares of the company's stock, valued at approximately $762,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company's stock.

Genpact Stock Down 1.8 %

NYSE G traded down $0.57 during trading on Monday, reaching $30.64. 957,773 shares of the company's stock were exchanged, compared to its average volume of 1,518,231. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $45.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $5.53 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07. The company has a 50 day moving average price of $33.86 and a two-hundred day moving average price of $34.40.

Genpact (NYSE:G - Get Free Report) last posted its earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. On average, equities research analysts anticipate that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were issued a $0.153 dividend. This is an increase from Genpact's previous quarterly dividend of $0.14. This represents a $0.61 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, March 8th. Genpact's payout ratio is presently 17.78%.

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.