TD Cowen Has Lowered Expectations for Genpact (NYSE:G) Stock Price

Genpact (NYSE:G) had its price objective cut by TD Cowen from $47.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price would indicate a potential upside of 43.00% from the company’s previous close.

Several other equities research analysts have also recently commented on G. Wall Street Zen cut Genpact from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Mizuho dropped their price objective on shares of Genpact from $49.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Susquehanna cut their price objective on shares of Genpact from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings cut shares of Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Finally, Citigroup lowered their target price on shares of Genpact from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Genpact currently has an average rating of “Hold” and an average target price of $42.25.

Genpact Stock Performance

Shares of NYSE G traded up $0.03 during midday trading on Thursday, reaching $29.37. 1,187,713 shares of the company were exchanged, compared to its average volume of 2,571,750. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47. Genpact has a 1 year low of $26.85 and a 1 year high of $48.64. The stock has a fifty day simple moving average of $31.06 and a 200 day simple moving average of $37.43. The stock has a market cap of $4.98 billion, a P/E ratio of 9.02, a PEG ratio of 0.84 and a beta of 0.61.

Genpact (NYSE:G) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $0.98 EPS for the quarter. Genpact had a return on equity of 22.70% and a net margin of 11.04%.The firm had revenue of $1.30 billion during the quarter. On average, research analysts forecast that Genpact will post 3.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genpact

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nalanda India Equity Fund Ltd boosted its holdings in Genpact by 8.0% during the fourth quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock worth $641,003,000 after buying an additional 1,015,556 shares in the last quarter. AQR Capital Management LLC increased its holdings in Genpact by 90.9% in the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock valued at $307,584,000 after buying an additional 3,131,643 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Genpact by 12.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,609,641 shares of the business services provider’s stock valued at $208,965,000 after buying an additional 598,877 shares in the last quarter. FIL Ltd lifted its position in shares of Genpact by 114.4% during the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after acquiring an additional 2,562,484 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Genpact by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,330,116 shares of the business services provider’s stock valued at $210,391,000 after acquiring an additional 107,870 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

About Genpact

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.