Shelton Capital Management Trims Position in Genpact Limited (NYSE:G)

Shelton Capital Management lowered its position in Genpact Limited (NYSE:G) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,296 shares of the business services provider’s stock after selling 348 shares during the quarter. Shelton Capital Management’s holdings in Genpact were worth $312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of G. Parallel Advisors LLC increased its position in shares of Genpact by 69.1% during the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the business services provider’s stock worth $29,000 after purchasing an additional 316 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Genpact by 136.7% in the 4th quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock worth $41,000 after acquiring an additional 507 shares during the last quarter. Clearstead Advisors LLC purchased a new position in shares of Genpact during the 1st quarter worth approximately $42,000. State of Wyoming acquired a new stake in Genpact in the 4th quarter valued at approximately $66,000. Finally, Belpointe Asset Management LLC raised its position in Genpact by 27.6% in the first quarter. Belpointe Asset Management LLC now owns 1,446 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 313 shares during the period. 96.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Genpact from a “neutral” rating to an “underweight” rating and set a $40.00 price target for the company. in a research report on Tuesday, August 22nd. Wedbush reiterated a “neutral” rating and set a $45.00 price target on shares of Genpact in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Genpact from $48.00 to $37.00 in a research note on Thursday, August 10th. Citigroup cut their target price on shares of Genpact from $42.00 to $39.00 in a research note on Thursday, August 10th. Finally, Robert W. Baird decreased their price target on shares of Genpact from $48.00 to $44.00 in a research report on Thursday, August 10th. One research 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.88.

Genpact Trading Up 0.7 %

Shares of NYSE:G opened at $34.18 on Tuesday. The company’s 50 day moving average is $35.19 and its two-hundred day moving average is $36.69. The company has a market cap of $6.20 billion, a PE ratio of 14.73, a P/E/G ratio of 1.59 and a beta of 1.17. Genpact Limited has a 52 week low of $29.41 and a 52 week high of $48.58. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.61.

Genpact Announces Dividend

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

About Genpact

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.