Genpact (NYSE:G) Price Target Raised to $40.00

Genpact (NYSE:G) had its price target hoisted by Jefferies Financial Group from $35.00 to $40.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on G. TD Cowen boosted their price objective on Genpact from $35.00 to $36.00 and gave the company a hold rating in a research note on Friday, August 9th. Needham & Company LLC boosted their target price on shares of Genpact from $40.00 to $42.00 and gave the company a buy rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Genpact from $35.00 to $43.00 and gave the stock a neutral rating in a research report on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective on Genpact from $38.00 to $42.00 and gave the company a market perform rating in a research note on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $38.78.

Genpact Stock Performance

Shares of Genpact stock opened at $38.64 on Monday. The firm has a market capitalization of $6.88 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.13. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $35.57 and its 200 day simple moving average is $33.67. Genpact has a 12 month low of $29.41 and a 12 month high of $39.95.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. As a group, analysts anticipate that Genpact will post 2.85 EPS for the current year.

Genpact Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be paid a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a yield of 1.58%. The ex-dividend date is Wednesday, September 11th. Genpact’s dividend payout ratio is 17.43%.

Hedge Funds Weigh In On Genpact

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in shares of Genpact by 22.6% during the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after buying an additional 347 shares in the last quarter. Cloverfields Capital Group LP raised its position in Genpact by 1.5% during the first quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock valued at $954,000 after purchasing an additional 416 shares in the last quarter. United Services Automobile Association lifted its stake in Genpact by 3.3% during the second quarter. United Services Automobile Association now owns 13,388 shares of the business services provider’s stock worth $431,000 after purchasing an additional 433 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Genpact by 10.4% in the 4th quarter. Johnson Financial Group Inc. now owns 4,800 shares of the business services provider’s stock worth $167,000 after purchasing an additional 452 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Genpact by 106.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 471 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.