Wedbush Reaffirms “Neutral” Rating for Genpact (NYSE:G)

Genpact (NYSE:G)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $35.00 target price on the business services provider’s stock. Wedbush’s price target indicates a potential upside of 3.83% from the stock’s previous close.

Several other brokerages have also weighed in on G. Mizuho initiated coverage on shares of Genpact in a report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Genpact from $39.00 to $38.00 and set a “market perform” rating for the company in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Genpact in a research report on Friday. Finally, StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.33.

Genpact Price Performance

G traded up $1.66 during midday trading on Friday, reaching $33.71. 846,080 shares of the company’s stock were exchanged, compared to its average volume of 1,531,143. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $6.08 billion, a PE ratio of 9.90, a P/E/G ratio of 1.47 and a beta of 1.07. The business’s 50-day moving average price is $32.34 and its 200 day moving average price is $33.84. Genpact has a 1-year low of $29.41 and a 1-year high of $39.75.

Genpact (NYSE:G) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. As a group, equities analysts anticipate that Genpact will post 2.7 EPS for the current fiscal year.

Institutional Trading of Genpact

A number of institutional investors and hedge funds have recently modified their holdings of G. EdgeRock Capital LLC bought a new position in shares of Genpact during the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Genpact by 106.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock worth $32,000 after acquiring an additional 471 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Genpact during the 4th quarter worth approximately $43,000. Covestor Ltd grew its stake in shares of Genpact by 140.2% during the 3rd quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after acquiring an additional 904 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Genpact by 120.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock valued at $60,000 after buying an additional 989 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Genpact Company Profile

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.