SunTrust Banks, Inc. restated their buy rating on shares of Genpact Limited (NYSE:G) in a report published on Monday. The brokerage currently has a $34.00 price objective on the business services provider’s stock.
A number of other brokerages have also recently issued reports on G. BMO Capital Markets boosted their target price on shares of Genpact Limited from $26.00 to $30.00 and gave the company a market perform rating in a report on Thursday, August 3rd. BidaskClub cut shares of Genpact Limited from a strong-buy rating to a buy rating in a report on Wednesday, August 16th. Robert W. Baird reissued a buy rating and set a $34.00 target price on shares of Genpact Limited in a report on Monday, September 25th. Zacks Investment Research raised shares of Genpact Limited from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Tuesday, August 8th. Finally, Wedbush reissued an outperform rating and set a $33.00 target price on shares of Genpact Limited in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $32.38.
Shares of Genpact Limited (NYSE:G) opened at 29.51 on Monday. Genpact Limited has a 12 month low of $22.62 and a 12 month high of $31.93. The company’s 50-day moving average price is $28.54 and its 200-day moving average price is $27.24. The firm has a market cap of $5.69 billion, a P/E ratio of 22.29 and a beta of 0.53.
Genpact Limited (NYSE:G) last posted its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The business had revenue of $670.70 million for the quarter, compared to the consensus estimate of $642.68 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. Genpact Limited’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that Genpact Limited will post $1.56 EPS for the current year.
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The firm also recently announced a special dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 8th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, September 7th. This represents a yield of 0.84%. Genpact Limited’s payout ratio is 18.05%.
In other news, CFO Edward J. Fitzpatrick sold 57,934 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $28.54, for a total value of $1,653,436.36. Following the transaction, the chief financial officer now owns 113,520 shares of the company’s stock, valued at $3,239,860.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mohit Thukral sold 25,000 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $28.37, for a total transaction of $709,250.00. Following the completion of the transaction, the insider now directly owns 85,305 shares in the company, valued at approximately $2,420,102.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,358,442 shares of company stock worth $297,475,276. Insiders own 1.55% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC bought a new position in shares of Genpact Limited in the second quarter worth $886,000. Renaissance Technologies LLC bought a new position in shares of Genpact Limited in the first quarter worth $19,870,000. AQR Capital Management LLC increased its holdings in shares of Genpact Limited by 6.0% in the first quarter. AQR Capital Management LLC now owns 1,983,274 shares of the business services provider’s stock worth $49,106,000 after purchasing an additional 112,723 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Genpact Limited by 85.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock worth $129,000 after purchasing an additional 2,403 shares during the period. Finally, Dalton Investments LLC increased its holdings in shares of Genpact Limited by 6.0% in the second quarter. Dalton Investments LLC now owns 839,960 shares of the business services provider’s stock worth $23,376,000 after purchasing an additional 47,300 shares during the period. 92.16% of the stock is currently owned by hedge funds and other institutional investors.
Genpact Limited Company Profile
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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