Genpact (NYSE:G) Price Target Raised to $43.00 at JPMorgan Chase & Co.

Genpact (NYSE:G) had its price target increased by JPMorgan Chase & Co. from $35.00 to $43.00 in a research report released on Friday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research firms have also weighed in on G. BMO Capital Markets lifted their price objective on shares of Genpact from $38.00 to $42.00 and gave the company a market perform rating in a research note on Monday, August 12th. Needham & Company LLC lifted their price target on shares of Genpact from $40.00 to $42.00 and gave the company a buy rating in a research note on Friday, August 9th. TD Cowen upped their price objective on shares of Genpact from $35.00 to $36.00 and gave the company a hold rating in a report on Friday, August 9th. Finally, Wedbush restated a neutral rating and issued a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $38.78.

Genpact Trading Up 1.1 %

NYSE G opened at $38.76 on Friday. The firm has a market capitalization of $6.91 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 1.60 and a beta of 1.13. The business’s 50-day moving average price is $35.42 and its two-hundred day moving average price is $33.66. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. Genpact has a 12 month low of $29.41 and a 12 month high of $39.95.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, analysts expect that Genpact will post 2.85 EPS for the current year.

Genpact Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Wednesday, September 11th. Genpact’s payout ratio is 17.43%.

Institutional Investors Weigh In On Genpact

Hedge funds have recently modified their holdings of the stock. New York Life Investment Management LLC bought a new position in Genpact during the fourth quarter worth about $620,000. Charles Schwab Investment Management Inc. grew its stake in Genpact by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,016 shares of the business services provider’s stock valued at $37,244,000 after buying an additional 26,084 shares in the last quarter. Versor Investments LP raised its holdings in Genpact by 45.2% during the 4th quarter. Versor Investments LP now owns 21,716 shares of the business services provider’s stock valued at $754,000 after acquiring an additional 6,757 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Genpact by 689.4% during the fourth quarter. BNP Paribas Financial Markets now owns 80,815 shares of the business services provider’s stock worth $2,805,000 after acquiring an additional 70,578 shares in the last quarter. Finally, AGF Management Ltd. boosted its holdings in shares of Genpact by 3.0% in the fourth quarter. AGF Management Ltd. now owns 84,309 shares of the business services provider’s stock worth $2,926,000 after acquiring an additional 2,448 shares during the period. Institutional investors own 96.03% of the company’s stock.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.