Genpact (NYSE:G) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “buy” rating in a report issued on Wednesday, The Fly reports. The brokerage presently has a $36.00 price objective on the business services provider’s stock. Bank of America‘s price target points to a potential upside of 15.50% from the company’s current price.
A number of other research firms have also weighed in on G. Morgan Stanley raised shares of Genpact from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $28.50 to $33.00 in a research note on Tuesday, January 15th. Zacks Investment Research lowered shares of Genpact from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Wells Fargo & Co set a $32.00 target price on shares of Genpact and gave the stock a “hold” rating in a research note on Wednesday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Genpact from $33.00 to $32.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 24th. Finally, Cowen reissued a “buy” rating and issued a $35.00 target price on shares of Genpact in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.81.
G stock traded up $0.50 during trading on Wednesday, hitting $31.17. The stock had a trading volume of 2,219 shares, compared to its average volume of 431,997. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.77. Genpact has a twelve month low of $25.48 and a twelve month high of $32.83. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.73 and a beta of 0.80.
Genpact (NYSE:G) last posted its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Genpact had a return on equity of 22.26% and a net margin of 9.31%. The company had revenue of $747.98 million for the quarter, compared to analysts’ expectations of $754.93 million. During the same period in the previous year, the firm posted $0.46 EPS. Genpact’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Genpact will post 1.57 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in G. FIL Ltd acquired a new position in shares of Genpact during the third quarter worth $55,908,000. Marshall Wace LLP acquired a new position in Genpact during the third quarter worth about $46,372,000. Wells Fargo & Company MN grew its position in Genpact by 1,103.8% during the third quarter. Wells Fargo & Company MN now owns 718,251 shares of the business services provider’s stock worth $21,985,000 after buying an additional 658,586 shares during the period. Alliancebernstein L.P. grew its position in Genpact by 20.1% during the third quarter. Alliancebernstein L.P. now owns 3,612,107 shares of the business services provider’s stock worth $110,567,000 after buying an additional 603,618 shares during the period. Finally, FMR LLC grew its position in Genpact by 3.5% during the second quarter. FMR LLC now owns 9,813,587 shares of the business services provider’s stock worth $283,907,000 after buying an additional 328,676 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.
Genpact Company Profile
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; over-the counter 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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