Genpact (NYSE:G) Price Target Raised to $44.00

Genpact (NYSE:G) had its price target hoisted by Citigroup from $36.00 to $44.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other brokerages have also weighed in on G. Weiss Ratings raised Genpact from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. lifted their price objective on Genpact from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. TD Cowen upped their target price on Genpact from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Susquehanna increased their target price on Genpact from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. Finally, Wall Street Zen downgraded Genpact from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Genpact currently has an average rating of “Hold” and a consensus target price of $41.89.

Genpact Price Performance

G stock opened at $43.63 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 1.95. The firm has a market cap of $7.30 billion, a P/E ratio of 12.41, a PEG ratio of 1.15 and a beta of 0.53. Genpact has a 1 year low of $26.85 and a 1 year high of $48.64. The stock’s 50 day moving average price is $36.84 and its 200 day moving average price is $35.49.

Genpact (NYSE:G) last announced its earnings results on Thursday, November 5th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Genpact had a net margin of 11.04% and a return on equity of 23.02%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that Genpact will post 3.66 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Thursday, December 10th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, December 10th. Genpact’s payout ratio is 21.87%.

Insider Buying and Selling

In other news, SVP Anil Nanduru sold 6,191 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $37.03, for a total value of $229,252.73. Following the transaction, the senior vice president directly owned 70,253 shares in the company, valued at $2,601,468.59. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Genpact

Several hedge funds and other institutional investors have recently modified their holdings of G. Pension & Wealth Management Advisors Inc. acquired a new position in Genpact during the third quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new position in shares of Genpact in the 3rd quarter valued at $30,000. Basecamp Wealth Advisors LLC raised its stake in shares of Genpact by 54.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,046 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 370 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Genpact by 57.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,339 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 487 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Genpact during the 3rd quarter valued at $77,000. 96.03% of the stock is owned by institutional investors and hedge funds.

About Genpact

Genpact is a global professional services company that helps businesses improve operations and pursue digital transformation. Its services include business process management, consulting, data and analytics, artificial intelligence, and technology implementation. The company works with clients across industries such as banking and financial services, insurance, consumer goods, healthcare, life sciences, manufacturing, and technology. It serves organizations around the world through its global operations.