Robert W. Baird Reiterates “Outperform” Rating for Genpact Limited (G)
Genpact Limited (NYSE:G)‘s stock had its “outperform” rating restated by investment analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday. They presently have a $36.00 target price on the business services provider’s stock, up from their prior target price of $34.00. Robert W. Baird’s price target would indicate a potential upside of 22.82% from the stock’s previous close.
G has been the topic of several other research reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $34.00 price objective on shares of Genpact Limited in a report on Monday. BMO Capital Markets reaffirmed a “hold” rating on shares of Genpact Limited in a report on Friday. Zacks Investment Research lowered Genpact Limited from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 price objective on shares of Genpact Limited in a report on Wednesday, September 13th. Finally, BidaskClub lowered Genpact Limited from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.38.
Genpact Limited (G) traded up 0.21% during mid-day trading on Tuesday, hitting $29.31. The stock had a trading volume of 522,305 shares. Genpact Limited has a 52-week low of $22.62 and a 52-week high of $31.93. The stock has a market cap of $5.65 billion, a P/E ratio of 22.14 and a beta of 0.53. The firm has a 50-day moving average of $28.46 and a 200-day moving average of $27.17.
Genpact Limited (NYSE:G) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. The firm had revenue of $670.70 million for the quarter, compared to analyst estimates of $642.68 million. Genpact Limited had a return on equity of 23.33% and a net margin of 10.22%. Genpact Limited’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, analysts forecast that Genpact Limited will post $1.56 EPS for the current fiscal year.
In other news, insider Private Ltd Gic sold 1,501,126 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $28.72, for a total transaction of $43,112,338.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Thukral sold 25,000 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $28.37, for a total transaction of $709,250.00. Following the sale, the insider now owns 85,305 shares of the company’s stock, valued at approximately $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 in the last quarter. Insiders own 1.55% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC acquired a new stake in Genpact Limited in the second quarter valued at about $886,000. Renaissance Technologies LLC acquired a new stake in Genpact Limited in the first quarter valued at about $19,870,000. AQR Capital Management LLC lifted its position in Genpact Limited by 6.0% in the first quarter. AQR Capital Management LLC now owns 1,983,274 shares of the business services provider’s stock valued at $49,106,000 after purchasing an additional 112,723 shares during the period. BNP Paribas Arbitrage SA lifted its position 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 purchasing an additional 2,403 shares during the period. Finally, Dalton Investments LLC lifted its position in Genpact Limited by 6.0% in the second quarter. Dalton Investments LLC now owns 839,960 shares of the business services provider’s stock valued at $23,376,000 after purchasing an additional 47,300 shares during the period. Institutional investors and hedge funds own 92.16% 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.
Receive News & Ratings for Genpact Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genpact Limited and related companies with MarketBeat.com's FREE daily email newsletter.