Heartland Advisors, an investment management firm, published its “Heartland Mid Cap Value Fund” second-quarter 2022 investor letter – a copy of which can be downloaded here. The Russell Mid Cap® Value Index was down for the quarter and the first half of the year, but it beat the S&P 500 and significantly outperformed the Russell Mid Cap Growth index over each timeframe. The Heartland Mid Cap Value Strategy, meanwhile, outperformed the Russell Mid Cap® Value Index in Q2 and on a year-to-date basis. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Heartland Mid Cap Value Fund mentioned Genpact Limited (NYSE:G) and explained its insights for the company. Founded in 1997, Genpact Limited (NYSE:G) is a New York, New York-based IT service management company with an $8.5 billion market capitalization. Genpact Limited (NYSE:G) delivered a -12.77% return since the beginning of the year, while its 12-month returns are down by -4.93%. The stock closed at $46.00 per share on July 22, 2022.
Here is what Heartland Mid Cap Value Fund has to say about Genpact Limited (NYSE:G) in its Q2 2022 investor letter:
“Genpact, Ltd. (NYSE:G), for instance, is a leading business process outsourcing firm whose client base of over 700 large global companies includes over a quarter of the Fortune 500 companies. Genpact’s double-digit organic growth is attributable to a range of cyclical and secular factors, but against its peer set, the company distinguishes itself as a provider of high-value, margin-enhancing solutions that help clients better compete in an evolving marketplace. Its solution set includes services that facilitate digital transformation, automation, predictive cloud-based analytics, and supply chain optimization. Valued at approximately 14x forward-looking earnings and 2x sales, Genpact’s stock trades at a deep discount to many of its peers, while its mix of growth and profitability suggests the current discount is unwarranted.”
Our calculations show that Genpact Limited (NYSE:G) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Genpact Limited (NYSE:G) was in 28 hedge fund portfolios at the end of the second quarter of 2022, compared to 24 funds in the previous quarter. Genpact Limited (NYSE:G) delivered a 9.92% return in the past 3 months.
In January 2021, we also shared another hedge fund’s views on Genpact Limited (NYSE:G) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
