Zacks Investment Research upgraded shares of Genpact Limited (NYSE:G) from a sell rating to a hold rating in a research report released on Friday, November 10th. Zacks Investment Research currently has $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.”
A number of other brokerages also recently commented on G. Robert W. Baird reaffirmed an outperform rating and set a $36.00 target price (up from $34.00) on shares of Genpact Limited in a research note on Tuesday, October 10th. SunTrust Banks, Inc. reissued a buy rating and issued a $34.00 price target on shares of Genpact Limited in a research note on Monday, October 9th. BMO Capital Markets restated a hold rating on shares of Genpact Limited in a report on Friday, October 6th. Wedbush restated an outperform rating and issued a $33.00 price objective on shares of Genpact Limited in a report on Wednesday, August 9th. Finally, Cantor Fitzgerald restated a buy rating and issued a $32.00 price objective on shares of Genpact Limited in a report on Wednesday, September 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Genpact Limited presently has a consensus rating of Buy and a consensus target price of $33.38.
Genpact Limited (NYSE G) traded up $0.12 during trading hours on Friday, reaching $31.56. The company had a trading volume of 667,900 shares, compared to its average volume of 1,028,217. The firm has a market cap of $6,069.25, a PE ratio of 20.42, a P/E/G ratio of 2.15 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 Limited has a 1-year low of $23.34 and a 1-year high of $31.93.
Genpact Limited (NYSE:G) last issued its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. Genpact Limited had a return on equity of 23.86% and a net margin of 10.18%. The company had revenue of $708.82 million for the quarter, compared to analyst estimates of $685.25 million. During the same quarter last year, the company posted $0.37 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. equities research analysts predict that Genpact Limited will post 1.47 earnings per share for the current fiscal year.
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In other Genpact Limited news, insider Piyush Mehta sold 20,728 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $30.00, for a total transaction of $621,840.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Private Ltd Gic sold 1,499,806 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $30.26, for a total transaction of $45,384,129.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,562,551 shares of company stock valued at $47,242,747. 1.41% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in G. YorkBridge Wealth Partners LLC lifted its holdings in shares of Genpact Limited by 5.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock worth $106,000 after acquiring an additional 189 shares during the period. Acrospire Investment Management LLC lifted its holdings in shares of Genpact Limited by 569.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock worth $112,000 after acquiring an additional 3,419 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Genpact Limited during the 3rd quarter worth about $128,000. SG Americas Securities LLC purchased a new position in shares of Genpact Limited during the 1st quarter worth about $110,000. Finally, Advisor Group Inc. lifted its holdings in shares of Genpact Limited by 59.8% during the 3rd quarter. Advisor Group Inc. now owns 5,017 shares of the business services provider’s stock worth $145,000 after acquiring an additional 1,878 shares during the period. 92.50% of the stock is currently owned by institutional investors.
About Genpact Limited
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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