TD Cowen Increases Genpact (NYSE:G) Price Target to $36.00

Genpact (NYSE:G) had its price objective lifted by TD Cowen from $35.00 to $36.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. TD Cowen’s price target indicates a potential downside of 4.00% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wedbush reiterated a “neutral” rating and set a $35.00 price target on shares of Genpact in a research report on Friday, May 10th. BMO Capital Markets dropped their price objective on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Citigroup dropped their price objective on Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Needham & Company LLC raised their price objective on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised shares of Genpact from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $40.00 in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $37.75.

Genpact Stock Performance

Shares of NYSE:G traded up $5.10 during midday trading on Friday, hitting $37.50. The stock had a trading volume of 2,566,656 shares, compared to its average volume of 1,413,897. Genpact has a 1 year low of $29.41 and a 1 year high of $38.51. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $32.69 and a two-hundred day moving average price of $33.25. The company has a market capitalization of $6.75 billion, a PE ratio of 10.71, a P/E/G ratio of 1.60 and a beta of 1.11.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. As a group, equities analysts predict that Genpact will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director N. V. Tyagarajan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the transaction, the director now owns 7,300 shares in the company, valued at $242,141. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Genpact

A number of hedge funds and other institutional investors have recently made changes to their positions in G. First Trust Advisors LP raised its stake in Genpact by 290.8% during the fourth quarter. First Trust Advisors LP now owns 3,071,231 shares of the business services provider’s stock valued at $106,602,000 after buying an additional 2,285,310 shares in the last quarter. Norges Bank acquired a new stake in shares of Genpact during the fourth quarter worth $68,683,000. Capital International Investors boosted its stake in Genpact by 51.8% in the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after acquiring an additional 1,053,236 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Genpact by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after buying an additional 847,249 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Genpact by 16.8% during the 4th quarter. FIL Ltd now owns 5,041,842 shares of the business services provider’s stock valued at $175,002,000 after purchasing an additional 725,198 shares during the period. Institutional investors own 96.03% of the company’s stock.

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.