Genpact (NYSE:G) Price Target Raised to $65.00

Genpact (NYSE:G) had its target price increased by Needham & Company LLC from $55.00 to $65.00 in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the business services provider’s stock.

Several other equities analysts have also recently weighed in on G. Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $55.00 in a research report on Tuesday, January 21st. Robert W. Baird lifted their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and increased their price objective for the stock from $45.00 to $60.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.63.

Genpact Price Performance

NYSE:G opened at $54.98 on Friday. Genpact has a 52-week low of $30.23 and a 52-week high of $56.76. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a market cap of $9.70 billion, a P/E ratio of 19.36, a PEG ratio of 1.63 and a beta of 1.20. The business’s 50-day moving average price is $45.09 and its 200 day moving average price is $41.41.

Genpact (NYSE:G) last released its earnings results on Thursday, February 6th. The business services provider reported $0.82 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%. As a group, sell-side analysts predict that Genpact will post 3.08 earnings per share for the current fiscal year.

Genpact Increases Dividend

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

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 9,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.40, for a total transaction of $417,600.00. Following the completion of the transaction, the chief executive officer now owns 267,404 shares of the company’s stock, valued at approximately $12,407,545.60. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of Genpact stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $42.83, for a total value of $513,960.00. Following the sale, the senior vice president now directly owns 151,182 shares in the company, 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. Insiders have sold a total of 35,058 shares of company stock worth $1,558,675 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Genpact

Several large investors have recently added to or reduced their stakes in G. HighTower Advisors LLC raised its stake in shares of Genpact by 112.2% during the fourth quarter. HighTower Advisors LLC now owns 12,573 shares of the business services provider’s stock worth $540,000 after buying an additional 6,647 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Genpact in the 4th quarter valued at approximately $1,847,000. PNC Financial Services Group Inc. grew its position in Genpact by 4.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,468 shares of the business services provider’s stock valued at $621,000 after purchasing an additional 550 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Genpact during the fourth quarter worth about $5,552,000. Finally, Arizona State Retirement System acquired a new stake in shares of Genpact in the 4th quarter valued at approximately $2,109,000. 96.03% of the stock is 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.