BidaskClub Lowers Genpact Limited (G) to Buy
Genpact Limited (NYSE:G) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Genpact Limited from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Deutsche Bank AG lifted their price objective on shares of Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of Genpact Limited in a research note on Thursday, August 3rd. Wedbush began coverage on shares of Genpact Limited in a research note on Thursday, August 3rd. They set a “neutral” rating and a $33.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Genpact Limited presently has an average rating of “Buy” and a consensus target price of $30.67.
Genpact Limited (NYSE G) traded up 0.67% during trading on Wednesday, reaching $28.74. The company had a trading volume of 268,822 shares. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $31.93. The stock has a market capitalization of $5.54 billion, a P/E ratio of 21.71 and a beta of 0.50. The stock has a 50 day moving average of $28.52 and a 200-day moving average of $26.03.
Genpact Limited (NYSE:G) last announced its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.10. The company had revenue of $670.70 million during the quarter, compared to the consensus estimate of $642.68 million. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. Genpact Limited’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, analysts forecast 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 firm’s stock in a transaction on 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 owns 68,845 shares of the company’s stock, valued at $1,873,272.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.55% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of 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 boosted its position in shares of 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 shares of Genpact Limited during the first quarter valued at about $19,870,000. UBS Asset Management Americas Inc. boosted its position in shares of 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 shares of Genpact Limited during the first quarter valued at about $19,515,000. 92.25% of the stock is owned by hedge funds and other institutional investors.
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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