Citigroup Cuts Genpact (NYSE:G) Price Target to $33.00

Genpact (NYSE:G) had its price target cut by Citigroup from $36.00 to $33.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other analysts have also recently issued reports about the company. Mizuho started coverage on Genpact in a research report on Tuesday, January 30th. They issued a neutral rating and a $40.00 price target on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 price objective on shares of Genpact in a research report on Friday, February 9th. StockNews.com cut Genpact from a strong-buy rating to a buy rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. upped their price objective on Genpact from $42.00 to $43.00 and gave the company an underweight rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Genpact currently has a consensus rating of Hold and an average price target of $39.78.

Genpact Stock Up 0.3 %

G stock opened at $31.76 on Monday. Genpact has a fifty-two week low of $29.41 and a fifty-two week high of $44.63. The business’s 50 day moving average price is $33.27 and its two-hundred day moving average price is $34.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.07.

Genpact (NYSE:G) last posted its earnings results on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, analysts forecast that Genpact will post 2.7 earnings per share for the current fiscal year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were issued a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a dividend yield of 1.93%. This is a boost from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 8th. Genpact’s dividend payout ratio is presently 17.78%.

Institutional Investors Weigh In On Genpact

Several hedge funds and other institutional investors have recently modified their holdings of G. EdgeRock Capital LLC purchased a new stake in shares of Genpact in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Genpact by 106.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock worth $32,000 after purchasing an additional 471 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Genpact in the 4th quarter worth $43,000. Covestor Ltd increased its stake in Genpact by 140.2% in the 3rd quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after buying an additional 904 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Genpact by 120.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after buying an additional 989 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

About Genpact

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.