Zacks Investment Research upgraded shares of Genpact Limited (NYSE:G) from a sell rating to a hold rating in a research report sent to investors on Friday morning. The brokerage currently has $35.00 price objective on the business services provider’s stock.
According to Zacks, “Genpact reported better-than-expected results in third-quarter 2017 backed by growth in Global Client BPO and transformation services. Management was particularly optimistic about the positive response to Genpact’s newly launched tagline, "Transformation happens here." However, customer concentration is a huge concern for the company. Moreover, a number of acquisitions over the years have negatively impacted the company's balance sheet. Additionally, anticipated government regulation in the U.S. over outsourcing (H1B Visa, Cross-border tax) is a headwind. Nevertheless, it is a dominant name in the business process outsourcing (BPO) market based on its domain expertise in business analytics, digital and consulting sectors. The company has also outperformed the industry on a year-to-date basis.”
Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $36.00 price objective on shares of Genpact Limited in a research report on Wednesday, November 8th. Cowen and Company reaffirmed a buy rating and set a $33.00 price objective on shares of Genpact Limited in a research report on Thursday, October 12th. Robert W. Baird reaffirmed an outperform rating and set a $36.00 price objective (up previously from $34.00) on shares of Genpact Limited in a research report on Tuesday, October 10th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $34.00 price objective on shares of Genpact Limited in a research report on Monday, October 9th. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Genpact Limited in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $33.38.
Genpact Limited (NYSE:G) traded down $0.08 during trading hours on Friday, reaching $31.10. 474,300 shares of the company’s stock were exchanged, compared to its average volume of 1,015,878. The firm has a market cap of $6,010.00, a P/E ratio of 20.25, a PEG ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.65 and a quick ratio of 1.65. Genpact Limited has a twelve month low of $23.26 and a twelve month high of $31.93.
Genpact Limited (NYSE:G) last released its earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $708.82 million during the quarter, compared to the consensus estimate of $685.25 million. Genpact Limited had a net margin of 10.18% and a return on equity of 23.86%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. research analysts expect that Genpact Limited will post 1.46 EPS for the current fiscal year.
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In related news, insider Private Ltd Gic sold 1,501,126 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $43,112,338.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mohit Thukral sold 25,000 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $28.37, for a total value of $709,250.00. Following the completion of the transaction, the insider now owns 85,305 shares in the company, valued at $2,420,102.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,396,187 shares of company stock worth $298,624,643. 1.41% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Brown Advisory Inc. lifted its stake in Genpact Limited by 2.0% during the 3rd quarter. Brown Advisory Inc. now owns 12,598,190 shares of the business services provider’s stock valued at $362,198,000 after acquiring an additional 247,088 shares in the last quarter. BlackRock Inc. lifted its stake in Genpact Limited by 40.1% during the 2nd quarter. BlackRock Inc. now owns 10,761,151 shares of the business services provider’s stock valued at $299,483,000 after acquiring an additional 3,080,741 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Genpact Limited by 1.5% during the 2nd quarter. Pzena Investment Management LLC now owns 2,670,064 shares of the business services provider’s stock valued at $74,308,000 after acquiring an additional 38,353 shares in the last quarter. Congress Asset Management Co. MA lifted its stake in Genpact Limited by 8.4% during the 2nd quarter. Congress Asset Management Co. MA now owns 2,557,213 shares of the business services provider’s stock valued at $71,167,000 after acquiring an additional 199,012 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Genpact Limited by 25.5% during the 3rd quarter. Schroder Investment Management Group now owns 1,624,084 shares of the business services provider’s stock valued at $46,497,000 after acquiring an additional 329,746 shares in the last quarter. Institutional investors and hedge funds own 92.78% of the company’s stock.
Genpact Limited Company Profile
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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