TD Cowen Issues Positive Forecast for Genpact (NYSE:G) Stock Price

Genpact (NYSE:G) had its price target hoisted by equities researchers at TD Cowen from $40.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. TD Cowen’s price target points to a potential downside of 2.15% from the company’s previous close.

A number of other equities research analysts also recently issued reports on G. JPMorgan Chase & Co. boosted their price objective on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Needham & Company LLC increased their price target on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their price target on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. Robert W. Baird increased their price objective on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.89.

Genpact Stock Up 10.0 %

Genpact stock traded up $4.18 during mid-day trading on Friday, reaching $45.99. The stock had a trading volume of 1,619,788 shares, compared to its average volume of 1,318,535. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.62 and a beta of 1.13. Genpact has a one year low of $29.41 and a one year high of $47.96. The company has a 50-day moving average price of $38.90 and a two-hundred day moving average price of $35.41.

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

Hedge Funds Weigh In On Genpact

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Genpact by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock worth $565,845,000 after acquiring an additional 218,526 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after purchasing an additional 847,249 shares during the last quarter. Capital International Investors increased its stake in Genpact by 51.8% during the 1st quarter. Capital International Investors now owns 3,086,957 shares of the business services provider’s stock valued at $101,715,000 after purchasing an additional 1,053,236 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in shares of Genpact by 22.2% during the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after buying an additional 284,842 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Genpact by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock worth $48,680,000 after acquiring an additional 122,993 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

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.