Genpact (NYSE:G) Given New $55.00 Price Target at Needham & Company LLC

Key Points

• Needham raised its Genpact price target to $55 from $45 and reiterated a Buy rating, implying 33.62% upside from the stock’s current price.
• Genpact’s latest quarterly results topped estimates: EPS was $1.07 versus $1.04 expected, while revenue of $1.39 billion rose 7.3% year over year.
• Analyst sentiment overall remains cautious: MarketBeat reports a consensus Hold rating and an average price target of $40.78, with seven Hold recommendations and two Buys.

Genpact (NYSE:G - Get Free Report) had its price target raised by investment analysts at Needham & Company LLC from $45.00 to $55.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the business services provider's stock. Needham & Company LLC's price target would indicate a potential upside of 33.62% from the stock's current price.

G has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $31.00 price target on Genpact in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on Genpact from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. BMO Capital Markets restated a "market perform" rating and set a $40.00 target price on shares of Genpact in a research note on Friday, August 7th. Citigroup raised their target price on shares of Genpact from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, TD Cowen lifted their price target on shares of Genpact from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Genpact currently has a consensus rating of "Hold" and a consensus price target of $40.78.

Genpact Stock Up 0.9%

Shares of NYSE G opened at $41.16 on Friday. The stock has a market cap of $6.88 billion, a P/E ratio of 11.89, a PEG ratio of 1.08 and a beta of 0.53. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.44. Genpact has a 12-month low of $26.85 and a 12-month high of $48.64. The business's fifty day simple moving average is $36.44 and its 200-day simple moving average is $35.54.

Genpact (NYSE:G - Get Free Report) last released its earnings results on Thursday, November 5th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. Genpact had a return on equity of 23.34% and a net margin of 11.04%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business posted $0.97 earnings per share. Genpact's revenue was up 7.3% compared to the same quarter last year. As a group, equities 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 firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $37.03, for a total transaction of $229,252.73. Following the sale, the senior vice president owned 70,253 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 1.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of G. WINTON GROUP Ltd raised its stake in Genpact by 178.8% during the 2nd quarter. WINTON GROUP Ltd now owns 48,666 shares of the business services provider's stock valued at $1,338,000 after acquiring an additional 31,213 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Genpact by 42.9% in the 2nd quarter. Engineers Gate Manager LP now owns 224,729 shares of the business services provider's stock valued at $6,180,000 after purchasing an additional 67,482 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Genpact by 135.5% in the 2nd quarter. Tidal Investments LLC now owns 57,011 shares of the business services provider's stock valued at $1,568,000 after purchasing an additional 32,805 shares during the last quarter. CX Institutional grew its stake in shares of Genpact by 102.7% in the 3rd quarter. CX Institutional now owns 361,074 shares of the business services provider's stock valued at $11,746,000 after purchasing an additional 182,960 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new position in shares of Genpact in the third quarter valued at approximately $955,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Genpact Company Profile

Genpact NYSE: G is a global professional services and business process management company that helps organizations improve operations through digital transformation, data and analytics, artificial intelligence, and industry-specific expertise. The company combines technology with operational services to support clients across core business functions.

Its offerings include finance and accounting, procurement, supply chain management, customer experience, risk and compliance, insurance operations, and banking and capital markets services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.