Genpact Limited (G) Lifted to Hold at Zacks Investment Research
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.
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.”
Several other analysts have also commented on G. Robert W. Baird reiterated an outperform rating and set a $36.00 price objective (up previously from $34.00) on shares of Genpact Limited in a report on Tuesday, October 10th. BMO Capital Markets reiterated a hold rating on shares of Genpact Limited in a report on Friday, October 6th. SunTrust Banks, Inc. reiterated a buy rating and set a $34.00 price objective on shares of Genpact Limited in a report on Monday, October 9th. Wedbush reiterated an outperform rating and set a $33.00 price objective on shares of Genpact Limited in a report on Wednesday, August 9th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $32.00 price objective on shares of Genpact Limited in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $33.13.
Genpact Limited (NYSE:G) traded up $0.04 during trading on Friday, reaching $31.18. The company’s stock had a trading volume of 659,300 shares, compared to its average volume of 1,018,362. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market capitalization of $6,018.80, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.14 and a beta of 0.58. Genpact Limited has a one year low of $23.16 and a one year high of $31.93.
Genpact Limited (NYSE:G) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The company had revenue of $708.82 million during the quarter, compared to analyst estimates of $685.25 million. Genpact Limited had a return on equity of 23.86% and a net margin of 10.18%. Genpact Limited’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. research analysts anticipate that Genpact Limited will post 1.46 earnings per share for the current year.
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In related news, Director Amit Chandra sold 275,508 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $28.72, for a total value of $7,912,589.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Piyush Mehta sold 17,017 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $31.00, for a total transaction of $527,527.00. Following the completion of the transaction, the insider now directly owns 82,461 shares in the company, valued at $2,556,291. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,396,187 shares of company stock worth $298,624,643. Corporate insiders own 1.41% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC lifted its stake in Genpact Limited by 5.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 3,793 shares of the business services provider’s stock worth $106,000 after purchasing an additional 189 shares in the last quarter. SG Americas Securities LLC purchased a new position in Genpact Limited in the 1st quarter worth approximately $110,000. Acrospire Investment Management LLC lifted its stake in Genpact Limited by 569.8% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,019 shares of the business services provider’s stock worth $112,000 after purchasing an additional 3,419 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Genpact Limited in the 3rd quarter worth approximately $128,000. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in Genpact Limited by 1.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,053 shares of the business services provider’s stock worth $141,000 after purchasing an additional 94 shares in the last quarter. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
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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