Genpact (NYSE:G) had its price target decreased by equities researchers at Citigroup from $39.00 to $37.50 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the business services provider’s stock. Citigroup’s price objective suggests a potential upside of 22.31% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Genpact from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Robert W. Baird restated a “buy” rating and set a $38.00 price objective on shares of Genpact in a report on Friday, November 10th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price objective on shares of Genpact in a report on Wednesday, November 8th. Finally, BMO Capital Markets raised their price objective on shares of Genpact to $35.00 and gave the stock a “market perform” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $34.39.
Shares of Genpact (NYSE G) traded down $1.64 during mid-day trading on Tuesday, reaching $30.66. 466,077 shares of the company’s stock were exchanged, compared to its average volume of 812,631. Genpact has a 1 year low of $23.34 and a 1 year high of $34.79. The company has a market capitalization of $6,167.71, a PE ratio of 22.22, a PEG ratio of 1.98 and a beta of 0.57. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.77.
In related news, insider Mohit Thukral sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $32.25, for a total transaction of $806,250.00. Following the completion of the transaction, the insider now directly owns 85,305 shares in the company, valued at approximately $2,751,086.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Private Ltd Gic sold 1,499,806 shares of the company’s 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. Insiders sold a total of 1,660,470 shares of company stock valued at $50,598,982 over the last 90 days. Corporate insiders own 1.41% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. bought a new stake in shares of Genpact in the 4th quarter valued at $114,000. Meeder Asset Management Inc. purchased a new stake in shares of Genpact in the third quarter valued at about $128,000. Advisor Group Inc. raised its holdings in shares of Genpact by 59.8% in the third quarter. Advisor Group Inc. now owns 5,017 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 1,878 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Genpact by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,508 shares of the business services provider’s stock worth $181,000 after purchasing an additional 455 shares during the period. Finally, Verition Fund Management LLC bought a new position in Genpact during the second quarter worth about $210,000. Institutional investors and hedge funds own 92.00% of the company’s stock.
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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