Robert W. Baird Reaffirms Buy Rating for Genpact Limited (G)
Robert W. Baird reissued their buy rating on shares of Genpact Limited (NYSE:G) in a research report released on Friday morning. Robert W. Baird currently has a $38.00 target price on the business services provider’s stock.
Other research analysts have also issued reports about the stock. Cantor Fitzgerald reissued a buy rating and set a $32.00 price target on shares of Genpact Limited in a research 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 target on shares of Genpact Limited and gave the company a buy rating in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Genpact Limited from a hold rating to a buy rating and set a $33.00 price target on the stock in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. restated a buy rating and set a $34.00 price objective on shares of Genpact Limited in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $33.13.
Genpact Limited (G) opened at $31.18 on Friday. Genpact Limited has a 12 month low of $23.16 and a 12 month high of $31.93. The firm has a market cap of $6,018.80, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.14 and a beta of 0.58. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.77.
Genpact Limited (NYSE:G) last released its quarterly 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. Genpact Limited had a net margin of 10.18% and a return on equity of 23.86%. The company had revenue of $708.82 million for the quarter, compared to analyst estimates of $685.25 million. During the same period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. equities research analysts anticipate that Genpact Limited will post 1.46 EPS for the current fiscal year.
In other news, insider Piyush Mehta sold 17,017 shares of Genpact Limited stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $31.00, for a total value of $527,527.00. Following the completion of the transaction, the insider now owns 82,461 shares in the company, valued at $2,556,291. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bain Capital Investors Llc sold 8,498,874 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 $244,087,661.28. The disclosure for this sale can be found here. Insiders have sold 10,396,187 shares of company stock valued at $298,624,643 in the last 90 days. 1.41% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Genpact Limited by 40.1% in the second 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 during the period. Pzena Investment Management LLC boosted its position in shares of Genpact Limited by 1.5% in the second 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 during the period. Congress Asset Management Co. MA boosted its position in shares of Genpact Limited by 8.4% in the second 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 during the period. Schroder Investment Management Group boosted its position in shares of Genpact Limited by 25.5% in the third 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 during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Genpact Limited by 16.0% in the second quarter. Goldman Sachs Group Inc. now owns 1,605,018 shares of the business services provider’s stock valued at $44,668,000 after acquiring an additional 221,046 shares during the period. Institutional investors own 92.78% 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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