Genpact Limited (G) Rating Increased to Hold at Zacks Investment Research
Genpact Limited (NYSE:G) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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.”
Other equities research analysts have also issued research reports about the stock. Cowen and Company set a $33.00 price target on shares of Genpact Limited and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Robert W. Baird restated an “outperform” rating and set a $34.00 price target on shares of Genpact Limited in a research note on Wednesday, August 16th. BidaskClub lowered shares of Genpact Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 16th. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Genpact Limited in a research note on Wednesday, August 9th. Finally, BMO Capital Markets raised their price target on shares of Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $33.13.
Genpact Limited (NYSE G) traded up $0.04 during trading hours on Friday, reaching $31.18. 659,300 shares of the company’s stock traded hands, compared to its average volume of 887,567. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a market cap of $6,018.80, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58. Genpact Limited has a 52-week low of $23.16 and a 52-week high of $31.93.
Genpact Limited (NYSE:G) last posted its quarterly earnings data 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 firm had revenue of $708.82 million during the quarter, compared to analyst estimates of $685.25 million. Genpact Limited had a net margin of 10.18% and a return on equity of 24.21%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. analysts expect that Genpact Limited will post 1.46 earnings per share for the current year.
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In other news, insider Mohit Thukral sold 25,000 shares of Genpact Limited stock in a transaction on Friday, August 25th. The shares were sold at an average price of $28.37, for a total transaction of $709,250.00. Following the completion of the sale, the insider now directly owns 85,305 shares of the company’s stock, valued at approximately $2,420,102.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bain Capital Investors Llc sold 8,498,874 shares of Genpact Limited stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total transaction of $244,087,661.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,396,187 shares of company stock valued at $298,624,643. Insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of G. UBS Asset Management Americas Inc. lifted its holdings in shares of Genpact Limited by 12.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 34,667 shares of the business services provider’s stock worth $858,000 after acquiring an additional 3,933 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Genpact Limited by 85.5% during the 1st quarter. Ameriprise Financial Inc. now owns 29,289 shares of the business services provider’s stock worth $725,000 after acquiring an additional 13,502 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Genpact Limited during the 1st quarter worth $110,000. Teachers Advisors LLC lifted its holdings in shares of Genpact Limited by 5.7% during the 1st quarter. Teachers Advisors LLC now owns 141,273 shares of the business services provider’s stock worth $3,498,000 after acquiring an additional 7,559 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Genpact Limited by 20.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,325,395 shares of the business services provider’s stock worth $32,816,000 after acquiring an additional 226,217 shares during the last quarter. 92.55% of the stock is owned by 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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