Genpact (NYSE:G) Given New $42.00 Price Target at TD Cowen

by · The Cerbat Gem

Genpact (NYSE:G – Get Free Report) had its price target cut by investment analysts at TD Cowen from $47.00 to $42.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price would suggest a potential upside of 43.00% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on G. Weiss Ratings cut shares of Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Susquehanna lowered their target price 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 dropped their target price 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. Wall Street Zen cut shares of Genpact from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Robert W. Baird decreased their price target on shares of Genpact from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.25.

Read Our Latest Research Report on G

Genpact Stock Performance

Shares of NYSE:G traded up $0.03 during trading on Thursday, hitting $29.37. 1,187,713 shares of the stock traded hands, compared to its average volume of 2,571,750. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $31.06 and a two-hundred day moving average price of $37.43. Genpact has a 52-week low of $26.85 and a 52-week high of $48.64. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.84 and a beta of 0.61.

Genpact (NYSE:G – Get Free Report) last released its quarterly 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 for the quarter. As a group, equities analysts predict that Genpact will post 3.64 EPS for the current year.

Hedge Funds Weigh In On Genpact

A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Genpact by 90.9% in the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock valued at $307,584,000 after purchasing an additional 3,131,643 shares in the last quarter. FIL Ltd grew its position in shares of Genpact by 114.4% in the 4th quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after buying an additional 2,562,484 shares during the last quarter. Clark Capital Management Group Inc. raised its stake in 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 acquiring an additional 1,141,480 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Genpact by 26.0% during the fourth 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 grew its holdings in shares of Genpact by 8.0% during the fourth 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 owned by hedge funds and other institutional investors.

Genpact Company Profile

(Get Free Report)

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.

Further Reading