Needham & Company LLC Raises Genpact (NYSE:G) Price Target to $42.00

Genpact (NYSE:G) had its price target increased by Needham & Company LLC from $40.00 to $42.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Genpact from an underweight rating to a neutral rating and lowered their target price for the company from $43.00 to $40.00 in a research note on Wednesday, July 17th. BMO Capital Markets decreased their price target on Genpact from $39.00 to $38.00 and set a market perform rating for the company in a research note on Friday, May 10th. Citigroup decreased their price target on shares of Genpact from $36.00 to $33.00 and set a neutral rating for the company in a report on Monday, April 22nd. Finally, Wedbush reissued a neutral rating and set a $35.00 price objective on shares of Genpact in a report on Friday, May 10th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $37.75.

Genpact Trading Down 1.6 %

Shares of NYSE:G traded down $0.59 during trading on Friday, hitting $36.91. The company had a trading volume of 491,439 shares, compared to its average volume of 1,407,907. Genpact has a one year low of $29.41 and a one year high of $37.97. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.54 and a quick ratio of 1.54. The company has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $33.23.

Genpact (NYSE:G) last issued its earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. As a group, equities analysts forecast that Genpact will post 2.7 earnings per share for the current year.

Genpact Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders 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 1.65%. The ex-dividend date is Wednesday, September 11th. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Insiders Place Their Bets

In related news, Director N. V. Tyagarajan sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total transaction of $33,170.00. Following the completion of the transaction, the director now directly owns 7,300 shares of the company’s stock, valued at approximately $242,141. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC lifted its position in Genpact by 53.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 49,134 shares of the business services provider’s stock valued at $1,580,000 after acquiring an additional 17,034 shares during the last quarter. Amalgamated Bank grew its stake in Genpact by 1.4% during the 2nd quarter. Amalgamated Bank now owns 105,694 shares of the business services provider’s stock worth $3,402,000 after buying an additional 1,497 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Genpact by 18.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 50,971 shares of the business services provider’s stock worth $1,641,000 after buying an additional 7,911 shares during the period. Dimensional Fund Advisors LP lifted its stake in Genpact by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after buying an additional 847,249 shares during the last quarter. Finally, Vest Financial LLC boosted its holdings in shares of Genpact by 37.1% in the second quarter. Vest Financial LLC now owns 34,554 shares of the business services provider’s stock valued at $1,112,000 after acquiring an additional 9,345 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

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.