Genpact (NYSE:G) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Genpact is a professional services firm. Its performance is driven by growth in Global Client BPO and transformation services. The company is a dominant name in the business process outsourcing (BPO) market based on its domain expertise in business analytics, digital and consulting sectors. Additionally, strong clientele and aggressive share buyback on stable cash flows are tailwinds. Shares of the company have outperformed the industry in the last year. However, customer concentration is a concern for the company. Acquisitions have also negatively impacted the company's balance sheet. Additionally, anticipated government regulation in the U.S. over outsourcing (H1B Visa, Cross-border tax) is a headwind.”
Other research analysts also recently issued research reports about the company. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Genpact in a research note on Friday, November 10th. Cowen reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Genpact in a research note on Thursday, October 12th. SunTrust Banks reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Genpact in a research note on Monday, October 9th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Genpact in a research note on Wednesday, November 8th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Genpact in a research note on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.38.
Genpact (NYSE:G) traded down $0.18 during mid-day trading on Tuesday, hitting $33.12. 920,317 shares of the stock were exchanged, compared to its average volume of 939,722. The company has a market capitalization of $6,390.00, a PE ratio of 24.00, a P/E/G ratio of 2.06 and a beta of 0.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.65 and a quick ratio of 1.65. Genpact has a 52-week low of $23.34 and a 52-week high of $33.75.
Genpact (NYSE:G) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. Genpact had a net margin of 10.18% and a return on equity of 23.86%. The firm had revenue of $708.82 million during the quarter, compared to analysts’ expectations of $685.25 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. sell-side analysts forecast that Genpact will post 1.47 EPS for the current fiscal year.
In other news, SVP Arvinder Singh sold 22,855 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $32.23, for a total transaction of $736,616.65. Following the completion of the sale, the senior vice president now owns 37,623 shares of the company’s stock, valued at approximately $1,212,589.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Piyush Mehta sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $32.00, for a total transaction of $400,000.00. Following the sale, the senior vice president now directly owns 77,944 shares of the company’s stock, valued at approximately $2,494,208. The disclosure for this sale can be found here. Insiders have sold a total of 1,675,525 shares of company stock valued at $50,978,024 in the last three months. Insiders own 1.41% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. First Citizens Bank & Trust Co. bought a new position in shares of Genpact in the 4th quarter worth $1,031,000. Sit Investment Associates Inc. lifted its holdings in shares of Genpact by 4.5% in the 4th quarter. Sit Investment Associates Inc. now owns 37,100 shares of the business services provider’s stock worth $1,178,000 after purchasing an additional 1,590 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Genpact by 3.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 652,408 shares of the business services provider’s stock worth $18,757,000 after purchasing an additional 23,563 shares in the last quarter. Visionary Asset Management Inc. bought a new position in shares of Genpact in the 3rd quarter worth $232,000. Finally, GSA Capital Partners LLP bought a new position in shares of Genpact in the 3rd quarter worth $628,000. Institutional investors own 91.16% of the company’s stock.
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Genpact Company Profile
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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