Genpact (NYSE:G – Get Free Report) had its target price raised by analysts at Needham & Company LLC from $45.00 to $55.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC‘s target price would suggest a potential upside of 33.62% from the stock’s current price.
Several other research firms have also recently issued reports on G. Citigroup boosted their target price on Genpact from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings raised Genpact from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price target on Genpact from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen upgraded Genpact from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Finally, TD Cowen upped their price objective on Genpact from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.78.
Read Our Latest Stock Report on Genpact
Genpact Stock Up 0.9%
Shares of NYSE:G opened at $41.16 on Friday. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.08 and a beta of 0.53. The firm’s 50-day simple moving average is $36.44 and its 200-day simple moving average is $35.54. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.44. Genpact has a fifty-two week low of $26.85 and a fifty-two week high of $48.64.
Genpact (NYSE:G – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Genpact had a net margin of 11.04% and a return on equity of 23.34%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, equities research analysts predict that Genpact will post 3.66 earnings per share for the current year.
Insider Transactions at Genpact
In other news, SVP Anil Nanduru sold 6,191 shares of Genpact stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total transaction of $229,252.73. Following the completion of the sale, the senior vice president directly owned 70,253 shares in the company, valued at approximately $2,601,468.59. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.58% of the company’s stock.
Hedge Funds Weigh In On Genpact
Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Genpact by 12.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,609,641 shares of the business services provider’s stock worth $208,965,000 after purchasing an additional 598,877 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Genpact by 10.9% in the third quarter. Pzena Investment Management LLC now owns 3,682,880 shares of the business services provider’s stock valued at $119,804,000 after buying an additional 363,334 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Genpact by 10.2% during the 1st quarter. First Trust Advisors LP now owns 2,415,994 shares of the business services provider’s stock worth $89,996,000 after buying an additional 222,899 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Genpact during the 1st quarter worth $30,037,000. Finally, Pacer Advisors Inc. boosted its position in shares of Genpact by 40.7% in the 1st quarter. Pacer Advisors Inc. now owns 765,204 shares of the business services provider’s stock worth $28,504,000 after buying an additional 221,536 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.
Genpact Company Profile
Genpact (NYSE: G) is a global professional services and business process management company that helps organizations improve operations through digital transformation, data and analytics, artificial intelligence, and industry-specific expertise. The company combines technology with operational services to support clients across core business functions.
Its offerings include finance and accounting, procurement, supply chain management, customer experience, risk and compliance, insurance operations, and banking and capital markets services.
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