Genpact (NYSE:G) Shares Gap Up Following Analyst Upgrade

Genpact Limited (NYSE:G) gapped up before the market opened on Friday after TD Cowen raised their price target on the stock from $40.00 to $45.00. The stock had previously closed at $41.81, but opened at $45.21. TD Cowen currently has a hold rating on the stock. Genpact shares last traded at $47.41, with a volume of 154,985 shares changing hands.

Several other research analysts also recently weighed in on G. Needham & Company LLC boosted their target price on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets upped their target price on Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Robert W. Baird lifted their price target on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group increased their price objective on Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price objective on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.89.

Hedge Funds Weigh In On Genpact

A number of large investors have recently added to or reduced their stakes in the stock. Capital International Investors lifted its position in shares of Genpact by 51.8% in the first quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after acquiring an additional 1,053,236 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Genpact by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after purchasing an additional 847,249 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Genpact by 130.3% in the 2nd quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider’s stock valued at $37,465,000 after purchasing an additional 658,560 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Genpact during the 3rd quarter worth $19,779,000. Finally, Tandem Investment Advisors Inc. purchased a new stake in shares of Genpact during the third quarter worth $17,025,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Genpact Price Performance

The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.69 and a beta of 1.13. The stock’s 50-day moving average price is $39.03 and its 200 day moving average price is $35.54. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.52.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts expect that Genpact Limited will post 2.85 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s dividend payout ratio is currently 16.76%.

Genpact Company Profile

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.