Magnetar Financial LLC Raises Stake in Genpact Limited (NYSE:G)

Magnetar Financial LLC grew its position in Genpact Limited (NYSE:G) by 46.9% in the first quarter, HoldingsChannel.com reports. The firm owned 96,560 shares of the business services provider’s stock after acquiring an additional 30,821 shares during the period. Magnetar Financial LLC’s holdings in Genpact were worth $3,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of G. Quadrature Capital Ltd purchased a new stake in shares of Genpact during the first quarter worth about $208,000. Cloverfields Capital Group LP grew its holdings in Genpact by 1.5% during the 1st quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock valued at $954,000 after buying an additional 416 shares in the last quarter. Capital International Inc. CA raised its position in shares of Genpact by 4.5% during the first quarter. Capital International Inc. CA now owns 67,214 shares of the business services provider’s stock valued at $2,215,000 after buying an additional 2,921 shares during the last quarter. Capital International Investors lifted its holdings in shares of Genpact by 51.8% in the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock worth $101,715,000 after buying an additional 1,053,236 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Genpact by 12.7% during the first quarter. EntryPoint Capital LLC now owns 5,080 shares of the business services provider’s stock worth $167,000 after acquiring an additional 571 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on G. Wedbush restated a “neutral” rating and set a $35.00 price objective on shares of Genpact in a research report on Friday, May 10th. StockNews.com cut Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Genpact in a report on Friday, May 10th. BMO Capital Markets lowered their target price on Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. upgraded shares of Genpact from an “underweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $40.00 in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.63.

Genpact Trading Up 0.7 %

NYSE G traded up $0.25 on Friday, hitting $34.36. 705,472 shares of the stock were exchanged, compared to its average volume of 975,300. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.54 and a current ratio of 1.54. Genpact Limited has a 52-week low of $29.41 and a 52-week high of $39.33. The firm has a market capitalization of $6.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.61 and a beta of 1.11. The stock has a fifty day moving average price of $32.61 and a two-hundred day moving average price of $33.33.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.62 by $0.06. Genpact had a net margin of 14.21% and a return on equity of 22.71%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Research analysts forecast that Genpact Limited will post 2.7 EPS for the current fiscal year.

Genpact Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be paid a $0.1525 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a yield of 1.78%. Genpact’s payout ratio is 17.43%.

Insider Transactions at Genpact

In other Genpact news, Director N. V. Tyagarajan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total value of $33,170.00. Following the completion of the sale, the director now directly owns 7,300 shares of the company’s stock, valued at approximately $242,141. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Genpact 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.