Cornercap Investment Counsel Inc. Sells 16,100 Shares of Genpact Limited (NYSE:G)

Cornercap Investment Counsel Inc. trimmed its stake in Genpact Limited (NYSE:G - Free Report) by 50.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,773 shares of the business services provider's stock after selling 16,100 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Genpact were worth $618,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital International Investors boosted its stake in shares of Genpact by 51.8% in the 1st quarter. Capital International Investors now owns 3,086,957 shares of the business services provider's stock valued at $101,715,000 after purchasing an additional 1,053,236 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider's stock worth $107,065,000 after acquiring an additional 847,249 shares during the period. Pzena Investment Management LLC raised its position in shares of Genpact by 130.3% in the 2nd quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider's stock worth $37,465,000 after acquiring an additional 658,560 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Genpact in the 3rd quarter valued at about $19,779,000. Finally, Tandem Investment Advisors Inc. bought a new stake in shares of Genpact during the 3rd quarter valued at about $17,025,000. 96.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on G. Needham & Company LLC lifted their price target on shares of Genpact from $42.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, November 11th. TD Cowen increased their price objective on shares of Genpact from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their price objective on Genpact from $35.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, September 9th. BMO Capital Markets lifted their price objective on shares of Genpact from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on Genpact from $35.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $42.33.

Genpact Price Performance

NYSE G traded down $0.31 during trading hours on Friday, reaching $44.79. 1,148,666 shares of the stock traded hands, compared to its average volume of 1,328,538. The stock has a 50 day simple moving average of $39.74 and a two-hundred day simple moving average of $36.06. Genpact Limited has a 1 year low of $30.23 and a 1 year high of $47.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.89. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13.

Genpact Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a dividend of $0.1525 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.36%. Genpact's payout ratio is 16.76%.

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.