Genpact (NYSE:G) Shares Gap Up After Analyst Upgrade

Genpact Limited (NYSE:G)’s stock price gapped up prior to trading on Friday after Needham & Company LLC raised their price target on the stock from $55.00 to $65.00. The stock had previously closed at $49.40, but opened at $54.93. Needham & Company LLC currently has a buy rating on the stock. Genpact shares last traded at $55.20, with a volume of 750,294 shares traded.

G has been the topic of a number of other research reports. Robert W. Baird raised their price target on shares of Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and raised their price target for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and lifted their price objective for the company from $45.00 to $60.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Genpact currently has an average rating of “Hold” and an average target price of $47.63.

Insider Transactions at Genpact

In other news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.40, for a total value of $417,600.00. Following the transaction, the chief executive officer now owns 267,404 shares in the company, valued at $12,407,545.60. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Piyush Mehta sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the transaction, the senior vice president now directly owns 151,182 shares in the company, valued at approximately $6,475,125.06. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $1,558,675 over the last quarter. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of G. PNC Financial Services Group Inc. increased its holdings in Genpact by 4.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,468 shares of the business services provider’s stock worth $621,000 after acquiring an additional 550 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Genpact during the 4th quarter worth approximately $5,552,000. Arizona State Retirement System bought a new position in Genpact during the fourth quarter valued at $2,109,000. Proficio Capital Partners LLC bought a new position in shares of Genpact in the 4th quarter valued at about $983,000. Finally, Assetmark Inc. boosted its holdings in shares of Genpact by 10.0% in the 4th quarter. Assetmark Inc. now owns 5,927 shares of the business services provider’s stock worth $255,000 after purchasing an additional 540 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

The firm has a market cap of $9.68 billion, a P/E ratio of 15.16, a PEG ratio of 1.61 and a beta of 1.20. The stock’s 50-day simple moving average is $44.86 and its two-hundred day simple moving average is $41.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 14.22% and a return on equity of 21.85%. Equities research analysts forecast that Genpact Limited will post 2.94 earnings per share for the current fiscal year.

Genpact Company Profile

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.