Shelton Capital Management Lowers Stake in Genpact Limited (NYSE:G)

Shelton Capital Management cut its stake in Genpact Limited (NYSE:G) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,296 shares of the business services provider’s stock after selling 348 shares during the period. Shelton Capital Management’s holdings in Genpact were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Genpact by 103,311.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,937,889 shares of the business services provider’s stock worth $228,723,000 after acquiring an additional 4,933,114 shares during the last quarter. Capital International Investors lifted its stake in Genpact by 101.8% in the first quarter. Capital International Investors now owns 3,963,229 shares of the business services provider’s stock worth $172,440,000 after purchasing an additional 1,999,617 shares during the last quarter. Norges Bank purchased a new stake in Genpact during the fourth quarter valued at about $81,569,000. Millennium Management LLC grew its stake in shares of Genpact by 416.0% during the fourth quarter. Millennium Management LLC now owns 918,348 shares of the business services provider’s stock valued at $42,538,000 after buying an additional 740,389 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Genpact by 3.3% in the first quarter. BlackRock Inc. now owns 16,019,805 shares of the business services provider’s stock worth $740,435,000 after buying an additional 512,786 shares during the period. Institutional investors own 96.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on G shares. JPMorgan Chase & Co. cut Genpact from a “neutral” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research note on Tuesday, August 22nd. Robert W. Baird dropped their price target on shares of Genpact from $48.00 to $44.00 in a research report on Thursday, August 10th. Needham & Company LLC decreased their price objective on shares of Genpact from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. StockNews.com cut Genpact from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Finally, Citigroup reduced their price target on Genpact from $42.00 to $39.00 in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.88.

Genpact Stock Performance

Shares of NYSE G opened at $34.18 on Tuesday. Genpact Limited has a 12-month low of $29.41 and a 12-month high of $48.58. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.59 and a beta of 1.17. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $35.19 and a 200 day moving average of $36.69.

Genpact Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, December 7th. Genpact’s dividend payout ratio is 23.71%.

Genpact Profile

Genpact Limited provides business process outsourcing and information technology (IT) 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 company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting.