Genpact (G) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Genpact (NYSE:G) from a sell rating to a hold rating in a research note released on Friday, November 10th. They currently have $35.00 price target on the business services provider’s stock.

According to Zacks, “Genpact reported better-than-expected results in third-quarter 2017 backed by growth in Global Client BPO and transformation services. Management was particularly optimistic about the positive response to Genpact’s newly launched tagline, "Transformation happens here." However, customer concentration is a huge concern for the company. Moreover, a number of acquisitions over the years have negatively impacted the company's balance sheet. Additionally, anticipated government regulation in the U.S. over outsourcing (H1B Visa, Cross-border tax) is a headwind. Nevertheless, it is a dominant name in the business process outsourcing (BPO) market based on its domain expertise in business analytics, digital and consulting sectors. The company has also outperformed the industry on a year-to-date basis.”

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Genpact from $26.00 to $30.00 and gave the company a market perform rating in a report on Thursday, August 3rd. SunTrust Banks reiterated a buy rating and issued a $34.00 price target on shares of Genpact in a report on Monday, October 9th. BidaskClub cut shares of Genpact from a strong-buy rating to a buy rating in a report on Wednesday, August 16th. Robert W. Baird reiterated a buy rating and issued a $34.00 price target on shares of Genpact in a report on Monday, September 25th. Finally, Wedbush reissued an outperform rating and issued a $33.00 price objective on shares of Genpact in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $33.38.

Shares of Genpact (NYSE G) traded down $0.33 during trading hours on Friday, hitting $32.01. 1,267,200 shares of the stock traded hands, compared to its average volume of 1,028,307. The firm has a market cap of $6,200.00, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 1.65. Genpact has a 12 month low of $23.34 and a 12 month high of $32.45.

Genpact (NYSE:G) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. The firm had revenue of $708.82 million during the quarter, compared to analysts’ expectations of $685.25 million. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. sell-side analysts anticipate that Genpact will post 1.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, December 7th. Genpact’s dividend payout ratio (DPR) is currently 17.39%.

In other Genpact news, insider Private Ltd Gic sold 1,499,806 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $30.26, for a total transaction of $45,384,129.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Piyush Mehta sold 20,728 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $30.00, for a total transaction of $621,840.00. The disclosure for this sale can be found here. Insiders have sold 1,575,051 shares of company stock worth $47,739,747 over the last ninety days. Insiders own 1.41% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC increased its holdings in shares of Genpact by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 189 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Genpact in the first quarter valued at $110,000. Acrospire Investment Management LLC increased its holdings in shares of Genpact by 569.8% in the second quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 3,419 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Genpact in the third quarter valued at $128,000. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Genpact by 1.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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About Genpact

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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