Cowen reissued their buy rating on shares of Genpact (NYSE:G) in a research note published on Wednesday morning. Cowen currently has a $35.00 price objective on the business services provider’s stock.
Several other brokerages also recently weighed in on G. Zacks Investment Research downgraded Genpact from a buy rating to a hold rating in a report on Monday, September 10th. JPMorgan Chase & Co. downgraded Genpact from a neutral rating to an underweight rating and set a $37.00 price target for the company. in a report on Tuesday, August 14th. Cantor Fitzgerald restated a buy rating and set a $36.00 price target on shares of Genpact in a report on Wednesday, August 8th. Finally, SunTrust Banks reiterated a buy rating and issued a $37.00 price objective on shares of Genpact in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $35.28.
Genpact stock traded up $1.10 on Wednesday, hitting $30.12. 1,707,229 shares of the stock traded hands, compared to its average volume of 744,251. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $5.59 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.89 and a beta of 0.64. Genpact has a 1 year low of $26.46 and a 1 year high of $34.79.
Genpact (NYSE:G) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Genpact had a return on equity of 21.95% and a net margin of 9.31%. The firm had revenue of $747.98 million during the quarter, compared to the consensus estimate of $754.93 million. During the same period last year, the company earned $0.46 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Genpact will post 1.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Monday, December 10th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.30 annualized dividend and a yield of 1.00%. Genpact’s payout ratio is 20.13%.
In related news, Director Carol Lindstrom sold 2,630 shares of Genpact stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $30.44, for a total value of $80,057.20. Following the completion of the sale, the director now directly owns 17,141 shares in the company, valued at approximately $521,772.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. First Hawaiian Bank purchased a new position in Genpact in the third quarter worth about $109,000. Fort L.P. purchased a new position in Genpact in the second quarter worth about $116,000. PNC Financial Services Group Inc. boosted its position in Genpact by 108.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,887 shares of the business services provider’s stock worth $120,000 after purchasing an additional 2,026 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Genpact in the second quarter worth about $130,000. Finally, SRS Capital Advisors Inc. boosted its position in Genpact by 88.6% in the second quarter. SRS Capital Advisors Inc. now owns 4,820 shares of the business services provider’s stock worth $139,000 after purchasing an additional 2,264 shares during the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.
Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; over-the counter services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.
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