Citigroup Issues Positive Forecast for Genpact (NYSE:G) Stock Price

Key Points

• Citigroup raised its Genpact price target to $44 from $36 but maintained a neutral rating, implying 2.41% upside from the prior close.
• Analyst sentiment remains cautious: Genpact has a consensus “Hold” rating and an average price target of $41.89.
• Genpact’s latest quarterly results beat expectations, with EPS of $1.07 versus $1.04 forecast and revenue up 7.3% year over year to $1.39 billion.

Genpact (NYSE:G - Get Free Report) had its price objective raised by investment analysts at Citigroup from $36.00 to $44.00 in a report released on Monday, Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. Citigroup's price target would indicate a potential upside of 2.41% from the company's previous close.

Several other equities analysts also recently weighed in on G. Weiss Ratings raised Genpact from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, October 14th. TD Cowen raised their price target on Genpact from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. BMO Capital Markets reaffirmed a "market perform" rating and set a $40.00 price objective on shares of Genpact in a research note on Friday, August 7th. Susquehanna boosted their price objective on shares of Genpact from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wall Street Zen downgraded shares of Genpact from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Genpact currently has a consensus rating of "Hold" and an average price target of $41.89.

Genpact Trading Up 1.6%

Shares of NYSE:G traded up $0.69 during trading on Monday, reaching $42.97. The company's stock had a trading volume of 1,221,532 shares, compared to its average volume of 2,392,506. The company has a current ratio of 1.95, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Genpact has a 12 month low of $26.85 and a 12 month high of $48.64. The firm's 50 day simple moving average is $36.53 and its two-hundred day simple moving average is $35.53. The stock has a market capitalization of $7.19 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.53.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The business services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Genpact had a return on equity of 23.02% and a net margin of 11.04%. The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts predict that Genpact will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Genpact news, SVP Anil Nanduru sold 6,191 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $37.03, for a total value of $229,252.73. Following the sale, the senior vice president owned 70,253 shares in the company, valued at $2,601,468.59. This trade represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On Genpact

Several large investors have recently added to or reduced their stakes in the stock. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Genpact during the third quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new position in Genpact during the 3rd quarter worth $30,000. Basecamp Wealth Advisors LLC increased its holdings in Genpact by 54.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,046 shares of the business services provider's stock worth $39,000 after purchasing an additional 370 shares during the period. Elevation Wealth Partners LLC raised its position in Genpact by 57.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,339 shares of the business services provider's stock valued at $44,000 after purchasing an additional 487 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Genpact during the 3rd quarter valued at $77,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Company Profile

Genpact is a global professional services company that helps businesses improve operations and pursue digital transformation. Its services include business process management, consulting, data and analytics, artificial intelligence, and technology implementation.

The company works with clients across industries such as banking and financial services, insurance, consumer goods, healthcare, life sciences, manufacturing, and technology. It serves organizations around the world through its global operations.

Genpact began in 1997 as a business services operation within GE Capital and became an independent company in 2005.

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