Genpact (G) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Genpact (NYSE:G) from a buy rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Genpact is a professional services firm. Its performance is driven by growth in Global Client BPO and transformation services. The company is a dominant name in the business process outsourcing (BPO) market based on its domain expertise in business analytics, digital and consulting sectors. Additionally, strong clientele and aggressive share buyback on stable cash flows are tailwinds. Shares of the company have outperformed the industry in the last year. However, customer concentration is a concern for the company. Acquisitions have also 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.”
A number of other research firms also recently issued reports on G. Robert W. Baird reiterated a buy rating and set a $38.00 price target on shares of Genpact in a research note on Friday, November 10th. Cantor Fitzgerald reiterated a buy rating and set a $36.00 price target on shares of Genpact in a research note on Wednesday, November 8th. Cowen reiterated a buy rating and set a $33.00 price target on shares of Genpact in a research note on Thursday, October 12th. SunTrust Banks reiterated a buy rating and set a $34.00 price target on shares of Genpact in a research note on Monday, October 9th. Finally, BMO Capital Markets reiterated a hold rating on shares of Genpact in a research note on Friday, October 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $33.38.
Genpact (NYSE:G) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. The company had revenue of $708.82 million during the quarter, compared to the consensus estimate of $685.25 million. Genpact had a return on equity of 23.86% and a net margin of 10.18%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. equities research analysts predict that Genpact will post 1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Friday, December 8th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.24 dividend on an annualized basis and a yield of 0.72%. Genpact’s dividend payout ratio (DPR) is currently 17.39%.
In other news, SVP Arvinder Singh sold 22,855 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $32.23, for a total value of $736,616.65. Following the transaction, the senior vice president now owns 37,623 shares in the company, valued at approximately $1,212,589.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider N. V. Tyagarajan sold 77,619 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $32.23, for a total value of $2,501,660.37. Following the completion of the transaction, the insider now owns 244,755 shares in the company, valued at approximately $7,888,453.65. The disclosure for this sale can be found here. Insiders have sold a total of 1,675,525 shares of company stock valued at $50,978,024 in the last quarter. Company insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in G. Schwab Charles Investment Management Inc. boosted its stake in shares of Genpact by 7.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 814,958 shares of the business services provider’s stock worth $22,681,000 after buying an additional 57,730 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Genpact by 27.0% in the 2nd quarter. SG Americas Securities LLC now owns 5,642 shares of the business services provider’s stock worth $157,000 after buying an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Genpact by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 461,324 shares of the business services provider’s stock worth $12,838,000 after buying an additional 23,479 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Genpact by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 108,089 shares of the business services provider’s stock worth $3,008,000 after buying an additional 1,799 shares during the last quarter. Finally, Riverhead Capital Management LLC purchased a new position in shares of Genpact in the 2nd quarter worth approximately $886,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.
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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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