Genpact (NYSE:G) Shares Gap Down Following Analyst Downgrade

Genpact Limited (NYSE:G) shares gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $56.00 to $50.00. The stock had previously closed at $49.55, but opened at $41.96. Robert W. Baird currently has a neutral rating on the stock. Genpact shares last traded at $40.93, with a volume of 1,859,657 shares.

G has been the subject of several other reports. Needham & Company LLC dropped their price objective on Genpact from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho boosted their price objective on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $60.00 in a report on Friday, February 7th. Finally, Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and boosted their price target for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.75.

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the transaction, the chief executive officer now owns 310,246 shares in the company, valued at approximately $15,167,926.94. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genpact

Several large investors have recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP bought a new stake in shares of Genpact in the 1st quarter worth approximately $300,000. Jefferies Financial Group Inc. acquired a new position in shares of Genpact during the first quarter valued at $530,000. Natixis Advisors LLC grew its position in shares of Genpact by 3.8% during the first quarter. Natixis Advisors LLC now owns 125,974 shares of the business services provider’s stock worth $6,347,000 after acquiring an additional 4,641 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of Genpact by 482.6% in the 1st quarter. Bayforest Capital Ltd now owns 4,911 shares of the business services provider’s stock worth $247,000 after acquiring an additional 4,068 shares during the period. Finally, Vestcor Inc bought a new stake in Genpact in the 1st quarter valued at about $675,000. 96.03% of the stock is currently owned by institutional investors.

Genpact Price Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.84 and a beta of 1.02. The business’s 50 day simple moving average is $49.14 and its 200-day simple moving average is $46.89.

Genpact (NYSE:G) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.50% and a net margin of 10.77%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Research analysts anticipate that Genpact Limited will post 3.21 earnings per share for the current year.

About Genpact

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.