Genpact (NYSE:G) Given New $65.00 Price Target at Needham & Company LLC

Genpact (NYSE:G) had its target price raised by Needham & Company LLC from $55.00 to $65.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 31.65% from the company’s current price.

Several other research firms have also commented on G. Robert W. Baird raised their price target on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and lifted their target price for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Finally, TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and increased their price target for the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $47.63.

Genpact Stock Down 0.1 %

Shares of G opened at $49.38 on Friday. The company’s 50-day moving average price is $44.86 and its 200 day moving average price is $41.09. Genpact has a 12-month low of $30.23 and a 12-month high of $49.68. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.71 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 14.22% and a return on equity of 21.85%. On average, sell-side analysts forecast that Genpact will post 2.94 earnings per share for the current year.

Insider Activity at Genpact

In related news, CEO Balkrishan Kalra sold 9,000 shares of the stock in a transaction 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 directly owns 267,404 shares of the company’s stock, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Piyush Mehta sold 12,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were 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 owns 151,182 shares of the company’s stock, valued at $6,475,125.06. This represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $1,558,675 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genpact

Several large investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Genpact by 3.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,885 shares of the business services provider’s stock worth $270,000 after purchasing an additional 226 shares during the period. CIBC Asset Management Inc raised its position in Genpact by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,692 shares of the business services provider’s stock worth $244,000 after acquiring an additional 297 shares in the last quarter. Tealwood Asset Management Inc. increased its holdings in Genpact by 1.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 24,658 shares of the business services provider’s stock valued at $1,059,000 after buying an additional 339 shares in the last quarter. Lecap Asset Management Ltd. raised its holdings in Genpact by 2.1% during the third quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider’s stock worth $708,000 after purchasing an additional 364 shares during the last quarter. Finally, Suncoast Equity Management increased its stake in shares of Genpact by 3.1% during the 3rd quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider’s stock worth $494,000 after purchasing an additional 375 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.