Genpact (NYSE:G) Price Target Raised to $55.00

Genpact (NYSE:G) had its price objective raised by Mizuho from $45.00 to $55.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the company. TD Cowen raised Genpact from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Robert W. Baird increased their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC increased their price target on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.44.

Genpact Stock Performance

Shares of G stock opened at $54.88 on Monday. Genpact has a 12-month low of $30.23 and a 12-month high of $56.76. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.20. The business has a 50 day simple moving average of $45.62 and a 200 day simple moving average of $41.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85.

Genpact (NYSE:G) last issued its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a return on equity of 22.61% and a net margin of 10.77%. On average, equities research analysts anticipate that Genpact will post 3.08 EPS for the current year.

Genpact Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Tuesday, March 11th. This is an increase from Genpact’s previous quarterly dividend of $0.15. Genpact’s dividend payout ratio is 21.48%.

Insider Activity

In other news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.40, for a total value of $417,600.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares in the company, valued at $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the completion of the sale, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock worth $1,558,675. Insiders own 2.80% of the company’s stock.

Institutional Trading of Genpact

A number of hedge funds have recently modified their holdings of the business. Atlas Capital Advisors Inc. raised its holdings in shares of Genpact by 55.8% during the fourth quarter. Atlas Capital Advisors Inc. now owns 603 shares of the business services provider’s stock worth $26,000 after acquiring an additional 216 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Genpact by 18.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 177,671 shares of the business services provider’s stock worth $7,631,000 after acquiring an additional 27,044 shares in the last quarter. OneAscent Financial Services LLC raised its holdings in shares of Genpact by 52.9% during the fourth quarter. OneAscent Financial Services LLC now owns 13,085 shares of the business services provider’s stock worth $562,000 after acquiring an additional 4,526 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Genpact during the fourth quarter worth $488,000. Finally, Trexquant Investment LP raised its holdings in shares of Genpact by 177.3% during the fourth quarter. Trexquant Investment LP now owns 239,127 shares of the business services provider’s stock worth $10,271,000 after acquiring an additional 152,905 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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.