Genpact Limited (G) Downgraded by BidaskClub
Genpact Limited (NYSE:G) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded 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. Cowen and Company set a $33.00 price target on shares of Genpact Limited and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank AG boosted their price target on shares of Genpact Limited from $26.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. BMO Capital Markets boosted their price target on shares of Genpact Limited from $26.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. Finally, Wedbush initiated coverage on shares of Genpact Limited in a report on Thursday, August 3rd. They issued a “neutral” rating and a $33.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.14.
Shares of Genpact Limited (NYSE G) traded up 0.56% on Wednesday, reaching $28.71. The company’s stock had a trading volume of 1,678,226 shares. The company has a market cap of $5.54 billion, a P/E ratio of 21.68 and a beta of 0.50. The company’s 50 day moving average price is $28.54 and its 200 day moving average price is $26.05. Genpact Limited has a 12-month low of $22.58 and a 12-month high of $31.93.
Genpact Limited (NYSE:G) last issued its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Genpact Limited had a net margin of 10.22% and a return on equity of 23.33%. The firm had revenue of $670.70 million during the quarter, compared to analysts’ expectations of $642.68 million. During the same quarter last year, the company posted $0.36 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Analysts forecast that Genpact Limited will post $1.56 EPS for the current fiscal year.
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In other news, insider Mohit Thukral sold 27,228 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $27.21, for a total value of $740,873.88. Following the completion of the transaction, the insider now owns 68,845 shares in the company, valued at approximately $1,873,272.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.55% of the company’s stock.
Hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its stake 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 buying an additional 189 shares during the period. SG Americas Securities LLC purchased a new stake in Genpact Limited during the first quarter valued at approximately $110,000. Acrospire Investment Management LLC boosted its stake 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 buying an additional 3,419 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake 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 buying an additional 1,480 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake 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 buying an additional 2,403 shares during the period. Hedge funds and other institutional investors own 92.25% 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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