Genpact (NYSE:G) Upgraded by TD Cowen to Buy Rating

TD Cowen upgraded shares of Genpact (NYSE:G) from a hold rating to a buy rating in a research report sent to investors on Friday, MarketBeat.com reports. The firm currently has $60.00 price target on the business services provider’s stock, up from their prior price target of $45.00.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Robert W. Baird boosted their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC raised their price target on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Genpact currently has a consensus rating of “Hold” and an average price target of $47.63.

Genpact Stock Up 11.3 %

G stock opened at $54.98 on Friday. Genpact has a one year low of $30.23 and a one year high of $56.76. The stock has a market capitalization of $9.70 billion, a P/E ratio of 19.36, a PEG ratio of 1.63 and a beta of 1.20. The company has a 50 day moving average price of $44.92 and a two-hundred day moving average price of $41.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85.

Genpact (NYSE:G) last released its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.61%. As a group, sell-side analysts expect that Genpact will post 3.08 EPS for the current year.

Genpact Increases Dividend

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

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares in the company, valued at $11,926,218.40. This trade represents a 4.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $1,558,675 over the last 90 days. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Genpact by 18.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after buying an additional 1,511,790 shares during the last quarter. Franklin Resources Inc. grew its position in Genpact by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock worth $162,318,000 after purchasing an additional 252,674 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after purchasing an additional 413,646 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Genpact by 192.8% during the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock valued at $122,701,000 after buying an additional 2,060,595 shares during the last quarter. Finally, Tandem Investment Advisors Inc. raised its holdings in shares of Genpact by 390.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock valued at $91,480,000 after buying an additional 1,695,706 shares during the last quarter. Institutional investors and hedge funds 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.