Genpact (NYSE:G) Price Target Cut to $42.00 by Analysts at TD Cowen

Genpact (NYSE:G) had its price target decreased by TD Cowen from $47.00 to $42.00 in a research report sent to investors on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the business services provider’s stock.

A number of other equities analysts also recently issued reports on G. Citigroup cut their target price on Genpact from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Weiss Ratings cut Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 24th. Susquehanna lowered their price target on shares of Genpact from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Mizuho cut their price target on shares of Genpact from $49.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Genpact in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Genpact presently has a consensus rating of “Hold” and an average price target of $42.25.

Genpact Trading Up 0.9%

Shares of G opened at $29.61 on Thursday. Genpact has a 12-month low of $26.85 and a 12-month high of $48.64. The firm has a market capitalization of $5.02 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.83 and a beta of 0.61. The firm has a 50-day moving average price of $30.98 and a 200 day moving average price of $37.30. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.47.

Genpact (NYSE:G) last released its earnings results on Tuesday, March 31st. The business services provider reported $0.98 EPS for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. The company had revenue of $1.30 billion during the quarter. Sell-side analysts forecast that Genpact will post 3.64 EPS for the current year.

Genpact Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were given a $0.1875 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $0.75 annualized dividend and a dividend yield of 2.5%. Genpact’s payout ratio is currently 23.01%.

Hedge Funds Weigh In On Genpact

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Genpact by 90.9% during the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock worth $307,584,000 after acquiring an additional 3,131,643 shares during the last quarter. FIL Ltd increased its stake in shares of Genpact by 114.4% during the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock worth $224,678,000 after purchasing an additional 2,562,484 shares in the last quarter. Clark Capital Management Group Inc. increased its stake in shares of Genpact by 157.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 1,864,198 shares of the business services provider’s stock worth $78,091,000 after purchasing an additional 1,141,480 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Genpact by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,010,764 shares of the business services provider’s stock worth $234,409,000 after purchasing an additional 1,032,554 shares during the last quarter. Finally, Nalanda India Equity Fund Ltd raised its position in shares of Genpact by 8.0% during the 4th quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock worth $641,003,000 after purchasing an additional 1,015,556 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

About Genpact

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.