Mizuho Issues Positive Forecast for Genpact (NYSE:G) Stock Price
by Michael Walen · The Markets DailyGenpact (NYSE:G – Get Free Report) had its target price increased by equities research analysts at Mizuho from $48.00 to $51.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Mizuho’s target price indicates a potential upside of 13.05% from the stock’s current price.
A number of other analysts have also commented on G. Robert W. Baird reduced their price objective on shares of Genpact from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Genpact in a research report on Monday. Finally, Wall Street Zen upgraded Genpact from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Genpact presently has an average rating of “Moderate Buy” and a consensus target price of $50.14.
Check Out Our Latest Analysis on Genpact
Genpact Stock Performance
Shares of G traded up $1.10 during midday trading on Tuesday, hitting $45.11. 827,201 shares of the stock traded hands, compared to its average volume of 1,403,365. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.45 and a current ratio of 2.45. Genpact has a 1-year low of $30.38 and a 1-year high of $56.76. The business’s 50 day moving average price is $44.49 and its two-hundred day moving average price is $46.92. The firm has a market capitalization of $7.89 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94.
Genpact (NYSE:G – Get Free Report) last posted its earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm earned $0.73 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Genpact will post 3.21 EPS for the current fiscal year.
Insider Buying and Selling
In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $87,940. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.
Institutional Trading of Genpact
Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in Genpact by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,326,474 shares of the business services provider’s stock worth $56,972,000 after acquiring an additional 4,453 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Genpact during the 4th quarter worth about $983,000. Smartleaf Asset Management LLC increased its stake in shares of Genpact by 416.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 783 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Genpact by 18.1% in the 4th quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after acquiring an additional 1,511,790 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in Genpact by 38.8% during the 4th quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider’s stock worth $69,000 after acquiring an additional 453 shares during the last quarter. 96.03% of the stock is owned by institutional investors.
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.
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