Citigroup Issues Positive Forecast for Genpact (NYSE:G) Stock Price

Genpact (NYSE:G) had its price target increased 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. Citigroup‘s price objective would suggest a potential upside of 2.41% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Genpact from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Wall Street Zen lowered Genpact from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen boosted their target price on shares of Genpact from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Needham & Company LLC increased their price target on shares of Genpact from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Genpact in a research 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $41.89.

Genpact Stock Up 1.6%

Shares of NYSE G traded up $0.69 during midday trading on Monday, reaching $42.97. 1,221,532 shares of the company’s stock traded hands, compared to its average volume of 2,392,506. The company has a quick ratio of 2.00, a current ratio of 1.95 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $36.53 and its 200-day simple moving average is $35.53. Genpact has a one year low of $26.85 and a one year high of $48.64. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.12 and a beta of 0.53.

Genpact (NYSE:G) last issued its quarterly earnings data on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. Genpact had a net margin of 11.04% and a return on equity of 23.02%. Genpact’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. On average, analysts predict that Genpact will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Genpact 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 completion of the sale, the senior vice president owned 70,253 shares of the company’s stock, valued at approximately $2,601,468.59. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.58% of the company’s stock.

Institutional Trading of Genpact

A number of institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. grew its stake in Genpact by 243.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,940 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 2,085 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Genpact by 9.8% in the third quarter. Hantz Financial Services Inc. now owns 9,838 shares of the business services provider’s stock worth $320,000 after purchasing an additional 880 shares during the last quarter. Allworth Financial LP raised its stake in shares of Genpact by 8.5% in the third quarter. Allworth Financial LP now owns 4,078 shares of the business services provider’s stock worth $133,000 after purchasing an additional 321 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Genpact by 0.9% during the third quarter. Illinois Municipal Retirement Fund now owns 119,753 shares of the business services provider’s stock worth $3,896,000 after purchasing an additional 1,103 shares during the period. Finally, Csenge Advisory Group acquired a new stake in shares of Genpact during the third quarter worth about $244,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Company Profile

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.

Genpact began in 1997 as a business services operation within GE Capital and became an independent company in 2005.