BidaskClub Lowers Genpact Limited (G) to Buy
Genpact Limited (NYSE:G) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Genpact Limited from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Deutsche Bank AG increased their price target on shares of Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets increased their price target 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. Wedbush initiated coverage on shares of Genpact Limited in a report on Thursday, August 3rd. They issued a “neutral” rating and a $33.00 price target for the company. Finally, Cowen and Company reiterated an “outperform” rating and issued a $33.00 price target (up previously from $30.00) on shares of Genpact Limited in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.67.
Genpact Limited (NYSE:G) traded up 0.67% on Wednesday, reaching $28.74. 268,822 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $28.52 and a 200-day moving average price of $26.03. Genpact Limited has a 1-year low of $22.58 and a 1-year high of $31.93. The company has a market capitalization of $5.54 billion, a P/E ratio of 21.71 and a beta of 0.50.
Genpact Limited (NYSE:G) last released its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The company had revenue of $670.70 million during the quarter, compared to analysts’ expectations of $642.68 million. During the same quarter last year, the business earned $0.36 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that Genpact Limited will post $1.56 earnings per share for the current year.
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In other Genpact Limited news, insider Mohit Thukral sold 27,228 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $27.21, for a total transaction of $740,873.88. Following the completion of the transaction, the insider now directly owns 68,845 shares in the company, valued at approximately $1,873,272.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.55% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Genpact Limited by 2,636.7% in the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock valued at $190,169,000 after buying an additional 7,399,767 shares during the period. Hahn Capital Management LLC increased its position in Genpact Limited by 2,613.3% in the first quarter. Hahn Capital Management LLC now owns 933,386 shares of the business services provider’s stock valued at $23,111,000 after buying an additional 898,986 shares during the period. Renaissance Technologies LLC acquired a new position in Genpact Limited during the first quarter valued at $19,870,000. UBS Asset Management Americas Inc. increased its position in Genpact Limited by 2,300.3% in the second quarter. UBS Asset Management Americas Inc. now owns 832,103 shares of the business services provider’s stock valued at $23,157,000 after buying an additional 797,436 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Genpact Limited during the first quarter valued at $19,515,000. Hedge funds and other institutional investors own 92.25% of the company’s stock.
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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