Genpact Limited (G) Given “Buy” Rating at Cantor Fitzgerald
Genpact Limited (NYSE:G)‘s stock had its “buy” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday. They currently have a $32.00 price target on the business services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 13.31% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Genpact Limited from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, August 8th. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Genpact Limited in a report on Wednesday, August 9th. BidaskClub upgraded Genpact Limited from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Cowen and Company restated an “outperform” rating and issued a $33.00 target price (up previously from $30.00) on shares of Genpact Limited in a report on Thursday, August 3rd. Finally, Deutsche Bank AG raised their target price on Genpact Limited from $26.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Genpact Limited has an average rating of “Buy” and an average target price of $31.86.
Genpact Limited (NYSE G) traded down 0.42% on Wednesday, hitting $28.12. The company’s stock had a trading volume of 330,451 shares. The stock has a market cap of $5.42 billion, a PE ratio of 21.24 and a beta of 0.50. Genpact Limited has a 12 month low of $22.58 and a 12 month high of $31.93. The firm has a 50 day moving average of $28.73 and a 200-day moving average of $26.56.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. The company had revenue of $670.70 million for the quarter, compared to analyst estimates of $642.68 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts expect that Genpact Limited will post $1.56 earnings per share for the current fiscal year.
In other Genpact Limited news, Director Amit Chandra sold 275,508 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $28.72, for a total value of $7,912,589.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Thukral sold 25,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $28.37, for a total value of $709,250.00. Following the completion of the sale, the insider now directly owns 85,305 shares of the company’s stock, valued at $2,420,102.85. The disclosure for this sale can be found here. Insiders have sold 10,358,442 shares of company stock valued at $297,475,276 over the last ninety days. 1.55% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC purchased a new stake in Genpact Limited in the second quarter worth $210,000. Susquehanna International Group LLP increased its position in Genpact Limited by 105.6% in the second quarter. Susquehanna International Group LLP now owns 108,817 shares of the business services provider’s stock worth $3,028,000 after buying an additional 55,897 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Genpact Limited by 619.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,332 shares of the business services provider’s stock worth $259,000 after buying an additional 8,034 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Genpact Limited by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock worth $181,000 after buying an additional 455 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Genpact Limited in the second quarter worth $335,000. 92.16% of the stock is owned by institutional investors and hedge funds.
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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