Genpact Limited’s (G) Buy Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald restated their buy rating on shares of Genpact Limited (NYSE:G) in a report released on Wednesday morning. They currently have a $32.00 price objective on the business services provider’s stock.
A number of other equities analysts have also commented on G. BMO Capital Markets raised their price objective on shares of Genpact Limited from $26.00 to $30.00 and gave the company a market perform rating in a research report on Thursday, August 3rd. Robert W. Baird reaffirmed an outperform rating and issued a $34.00 target price on shares of Genpact Limited in a research note on Wednesday, August 16th. Cowen and Company set a $33.00 target price on shares of Genpact Limited and gave the company a buy rating in a research note on Tuesday, August 15th. BidaskClub downgraded shares of Genpact Limited from a strong-buy rating to a buy rating in a research note on Wednesday, August 16th. Finally, Deutsche Bank AG raised their target price on shares of Genpact Limited from $26.00 to $28.00 and gave the company a hold rating in a research note on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $31.86.
Genpact Limited (G) opened at 28.08 on Wednesday. The stock has a 50 day moving average of $28.67 and a 200 day moving average of $26.60. The firm has a market capitalization of $5.42 billion, a PE ratio of 21.21 and a beta of 0.50. Genpact Limited has a 12 month low of $22.62 and a 12 month high of $31.93.
Genpact Limited (NYSE:G) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The company had revenue of $670.70 million during the quarter, compared to analyst estimates of $642.68 million. During the same period last year, the business earned $0.36 earnings per share. Genpact Limited’s revenue was up 6.4% compared to the same quarter last year. On average, 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 will be paid on Thursday, September 21st. Stockholders of record on Friday, September 8th will be issued a $0.06 dividend. This represents a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 7th. Genpact Limited’s dividend payout ratio is 18.05%.
In related news, Director Amit Chandra sold 275,508 shares of Genpact Limited stock in a transaction on Friday, August 18th. The shares were sold at an average price of $28.72, for a total value of $7,912,589.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mohit Thukral sold 25,000 shares of Genpact Limited stock in a transaction on Friday, August 25th. The shares were sold at an average price of $28.37, for a total transaction of $709,250.00. Following the completion of the sale, the insider now owns 85,305 shares in the company, valued at approximately $2,420,102.85. The disclosure for this sale can be found here. Insiders sold 10,358,442 shares of company stock worth $297,475,276 in the last 90 days. Company insiders own 1.55% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in G. YorkBridge Wealth Partners LLC boosted its holdings in Genpact Limited by 5.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 189 shares in the last quarter. SG Americas Securities LLC bought a new stake in Genpact Limited in the first quarter valued at $110,000. Acrospire Investment Management LLC boosted its holdings in Genpact Limited by 569.8% in the second quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 3,419 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Genpact Limited by 42.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,959 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 1,480 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Genpact Limited by 85.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,220 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 2,403 shares in the last quarter. Institutional investors and hedge funds own 92.16% 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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