Genpact (NYSE:G)‘s stock had its “buy” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. They currently have a $36.00 target price on the business services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 11.46% from the company’s previous close.
The analysts wrote, “Foresi’s Take. Global Client BPO grew 15% y/y in 4Q17. However, Global Client growth was down from the prior-quarter level (+12% vs. 13%), but offset declines at GE enough to drive total revenues above Street estimates. Digital continues to be a key driver, as transformational services grew 25%, driven by demand for digital solutions (20% of Global Client revenue). Acquisitions are expected to add around 1% to 2018 revenues.””
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Genpact from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Robert W. Baird restated a “buy” rating and issued a $38.00 price target on shares of Genpact in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.38.
Genpact (NYSE:G) last posted its quarterly earnings results on Monday, February 12th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $734.41 million for the quarter, compared to analyst estimates of $723.55 million. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. equities analysts forecast that Genpact will post 1.47 EPS for the current year.
In other Genpact news, insider Arvinder Singh sold 22,690 shares of Genpact stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.95, for a total transaction of $770,325.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Private Ltd Gic sold 1,499,806 shares of Genpact stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $30.26, for a total transaction of $45,384,129.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,660,470 shares of company stock worth $50,598,982. 1.41% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of G. Ameriprise Financial Inc. grew its position in Genpact by 3.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 30,196 shares of the business services provider’s stock worth $840,000 after purchasing an additional 907 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Genpact by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,487,882 shares of the business services provider’s stock valued at $41,409,000 after buying an additional 162,487 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Genpact during the 2nd quarter valued at $335,000. The Manufacturers Life Insurance Company boosted its stake in shares of Genpact by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock valued at $181,000 after buying an additional 455 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Genpact during the 2nd quarter valued at $210,000. Hedge funds and other institutional investors own 92.00% of the company’s stock.
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Genpact Company Profile
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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