Genpact Limited’s (G) Outperform Rating Reaffirmed at Robert W. Baird
Genpact Limited (NYSE:G)‘s stock had its “outperform” rating reiterated by analysts at Robert W. Baird in a research note issued on Wednesday. They currently have a $34.00 price target on the business services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 18.43% from the company’s current price.
Several other research firms also recently commented on G. Zacks Investment Research downgraded Genpact Limited from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Genpact Limited in a report on Wednesday, August 9th. BidaskClub upgraded Genpact Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Deutsche Bank AG lifted their price objective on Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Cowen and Company reiterated an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Genpact Limited in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.14.
Shares of Genpact Limited (NYSE:G) traded up 0.56% during trading on Wednesday, reaching $28.71. The company’s stock had a trading volume of 1,678,226 shares. The stock’s 50-day moving average is $28.52 and its 200-day moving average is $26.03. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $31.93. The stock has a market cap of $5.54 billion, a P/E ratio of 21.68 and a beta of 0.50.
Genpact Limited (NYSE:G) last issued its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The firm had revenue of $670.70 million during the quarter, compared to analyst estimates of $642.68 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Genpact Limited will post $1.56 earnings per share for the current fiscal year.
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In related news, insider Mohit Thukral sold 27,228 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $27.21, for a total transaction of $740,873.88. Following the transaction, the insider now owns 68,845 shares in the company, valued at approximately $1,873,272.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.55% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Genpact Limited by 0.3% in the first quarter. Wellington Management Group LLP now owns 19,815,652 shares of the business services provider’s stock worth $490,635,000 after buying an additional 54,034 shares in the last quarter. BlackRock Inc. increased its position in shares of Genpact Limited by 40.1% in the second quarter. BlackRock Inc. now owns 10,761,151 shares of the business services provider’s stock worth $299,483,000 after buying an additional 3,080,741 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Genpact Limited by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,626,705 shares of the business services provider’s stock worth $263,117,000 after buying an additional 321,161 shares in the last quarter. Fiduciary Management Inc. WI increased its position in shares of Genpact Limited by 9.2% in the first quarter. Fiduciary Management Inc. WI now owns 5,266,210 shares of the business services provider’s stock worth $130,391,000 after buying an additional 442,770 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Genpact Limited by 5.6% in the first quarter. Alliancebernstein L.P. now owns 3,193,666 shares of the business services provider’s stock worth $79,075,000 after buying an additional 170,471 shares in the last quarter. 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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