Genpact Limited (NYSE:G) Receives Average Recommendation of “Buy” from Brokerages

Genpact Limited (NYSE:G) has been given a consensus recommendation of “Buy” by the eleven analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $34.47.

G has been the subject of several analyst reports. Needham & Company LLC initiated coverage on Genpact in a research note on Friday. They issued a “buy” rating for the company. Zacks Investment Research downgraded Genpact from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine upgraded Genpact from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Wells Fargo & Co upgraded Genpact from a “market perform” rating to an “outperform” rating and set a $33.25 target price for the company in a research note on Friday, March 8th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $36.00 target price on shares of Genpact in a research note on Sunday, March 3rd.

Shares of G stock traded up $0.20 on Friday, hitting $36.98. 664,450 shares of the stock were exchanged, compared to its average volume of 919,641. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.03 and a beta of 0.83. Genpact has a one year low of $25.48 and a one year high of $37.70.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The company had revenue of $809.21 million during the quarter, compared to the consensus estimate of $764.50 million. Genpact had a return on equity of 22.33% and a net margin of 8.91%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Equities analysts predict that Genpact will post 1.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Wednesday, June 12th will be issued a $0.085 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.34 annualized dividend and a dividend yield of 0.92%. Genpact’s payout ratio is currently 21.25%.

In related news, insider Private Ltd Gic sold 1,499,806 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $36.01, for a total transaction of $54,008,014.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Heather White sold 1,058 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $36.08, for a total value of $38,172.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,284,683 shares of company stock worth $370,247,491. Insiders own 1.86% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Genpact by 17.8% in the 1st quarter. BlackRock Inc. now owns 9,496,584 shares of the business services provider’s stock worth $334,091,000 after buying an additional 1,431,928 shares during the last quarter. Norges Bank bought a new stake in shares of Genpact in the 4th quarter worth approximately $38,024,000. FIL Ltd grew its position in shares of Genpact by 35.3% in the 1st quarter. FIL Ltd now owns 4,799,093 shares of the business services provider’s stock worth $168,832,000 after buying an additional 1,251,581 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Genpact by 58.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,341,520 shares of the business services provider’s stock worth $47,195,000 after buying an additional 493,250 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Genpact by 766.4% in the 1st quarter. JPMorgan Chase & Co. now owns 473,000 shares of the business services provider’s stock worth $16,640,000 after buying an additional 418,407 shares during the last quarter. 93.97% of the stock is currently owned by institutional investors.

About Genpact

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.

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Analyst Recommendations for Genpact (NYSE:G)

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