Zacks Investment Research lowered shares of Genpact Limited (NYSE:G) from a buy rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Genpact is a dominant name in the Business process outsourcing (BPO) market based on its domain expertise in business analytics, digital and consulting. The company’s better-than-expected second-quarter results are driven by revenue growth from mid-teen global client BPO coupled with balanced performance across most of the targeted verticals and service lines of the company. We also note that it is gaining popularity among customers in providing emerging technologies like Blockchain and Industrial Internet of Things (IoT). Moreover, accretive acquisitions over the years have aided the company penetrate new domains like mobile technology, dynamic workflow solution and artificial intelligence (AI). Additionally, effective cost management is driving operating margin expansion. However, anticipated government regulation in the U.S. over outsourcing (H1B Visa, Cross-border tax) and high debt level are headwinds.”
Several other equities research analysts also recently weighed in on G. Robert W. Baird reissued a buy rating and issued a $34.00 price target on shares of Genpact Limited in a report on Monday, September 25th. Cantor Fitzgerald restated a buy rating and set a $32.00 price objective on shares of Genpact Limited in a report on Wednesday, September 13th. BidaskClub lowered shares of Genpact Limited from a strong-buy rating to a buy rating in a research report on Wednesday, August 16th. Cowen and Company set a $33.00 price objective on shares of Genpact Limited and gave the company a buy rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG lifted their target price on shares of Genpact Limited from $26.00 to $28.00 and gave the stock a hold rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Genpact Limited has a consensus rating of Buy and a consensus target price of $31.86.
Genpact Limited (G) traded up 0.881% during mid-day trading on Tuesday, reaching $29.195. 303,111 shares of the company’s stock were exchanged. Genpact Limited has a one year low of $22.62 and a one year high of $31.93. The company’s 50-day moving average is $28.39 and its 200 day moving average is $27.02. The firm has a market capitalization of $5.63 billion, a P/E ratio of 22.051 and a beta of 0.53.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.10. The company had revenue of $670.70 million for the quarter, compared to analyst estimates of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities analysts predict that Genpact Limited will post $1.56 earnings per share for the current fiscal year.
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The company also recently announced a special dividend, which was paid on Thursday, September 21st. Investors of record on Friday, September 8th were issued a dividend of $0.06 per share. This represents a dividend yield of 0.84%. The ex-dividend date was Thursday, September 7th. Genpact Limited’s dividend payout ratio (DPR) is 18.05%.
In other Genpact Limited news, Director Amit Chandra sold 275,508 shares of Genpact Limited stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $28.72, for a total transaction of $7,912,589.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Private Ltd Gic sold 1,501,126 shares of Genpact Limited stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $28.72, for a total value of $43,112,338.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,358,442 shares of company stock worth $297,475,276. 1.55% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Genpact Limited by 2,636.7% during the first quarter. BlackRock Inc. now owns 7,680,410 shares of the business services provider’s stock worth $190,169,000 after buying an additional 7,399,767 shares in the last quarter. Hahn Capital Management LLC grew its position in Genpact Limited by 2,613.3% during the first quarter. Hahn Capital Management LLC now owns 933,386 shares of the business services provider’s stock valued at $23,111,000 after buying an additional 898,986 shares during the period. Renaissance Technologies LLC acquired a new stake in Genpact Limited during the first quarter valued at $19,870,000. UBS Asset Management Americas Inc. grew its position in Genpact Limited by 2,300.3% during the second quarter. UBS Asset Management Americas Inc. now owns 832,103 shares of the business services provider’s stock valued at $23,157,000 after buying an additional 797,436 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Genpact Limited during the first quarter valued at $19,515,000. Hedge funds and other institutional investors own 92.16% of the company’s stock.
About Genpact Limited
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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