Needham & Company LLC Issues Positive Forecast for Genpact (NYSE:G) Stock Price

Key Points

• Analysts at Needham & Company raised Genpact's price target from $50.00 to $53.00, indicating a potential upside of 22.04% from its previous close.
• Genpact reported a quarterly EPS of $0.88, exceeding analysts’ expectations, with revenue reaching $1.25 billion, reflecting a 6.6% year-over-year increase.
• Currently, Genpact has a consensus rating of "Moderate Buy" among analysts and an average price target of $50.13.

Genpact (NYSE:G - Get Free Report) had its price objective raised by research analysts at Needham & Company LLC from $50.00 to $53.00 in a note issued to investors on Friday, MarketBeat reports. The firm presently has a "buy" rating on the business services provider's stock. Needham & Company LLC's target price would indicate a potential upside of 21.59% from the stock's previous close.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Genpact in a research report on Thursday, July 17th. They set a "hold" rating and a $47.00 price objective for the company. Robert W. Baird reduced their price objective on Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wall Street Zen raised Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Mizuho boosted their price target on Genpact from $48.00 to $51.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Five research 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.13.

Genpact Trading Up 4.5%

NYSE G traded up $1.87 during trading hours on Friday, hitting $43.59. 2,940,103 shares of the company's stock were exchanged, compared to its average volume of 1,569,202. The business's 50 day moving average is $43.85 and its 200-day moving average is $47.10. The firm has a market capitalization of $7.62 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.59 and a beta of 0.92. 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 12-month low of $35.42 and a 12-month high of $56.76.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.03. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Genpact had a return on equity of 22.55% and a net margin of 10.92%. The business's revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. As a group, analysts anticipate that Genpact will post 3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Genpact news, Director Nicholas C. Gangestad acquired 2,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $43.97 per share, for a total transaction of $87,940.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $87,940. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genpact

A number of institutional investors and hedge funds have recently bought and sold shares of G. Kingsview Wealth Management LLC increased its position in shares of Genpact by 4.6% in the 2nd quarter. Kingsview Wealth Management LLC now owns 208,927 shares of the business services provider's stock valued at $9,195,000 after purchasing an additional 9,266 shares during the last quarter. Jensen Investment Management Inc. lifted its stake in shares of Genpact by 3.8% in the 2nd quarter. Jensen Investment Management Inc. now owns 148,195 shares of the business services provider's stock worth $6,522,000 after acquiring an additional 5,460 shares during the period. Creative Planning lifted its stake in shares of Genpact by 10.7% in the 2nd quarter. Creative Planning now owns 38,620 shares of the business services provider's stock worth $1,700,000 after acquiring an additional 3,724 shares during the period. SG Americas Securities LLC lifted its stake in shares of Genpact by 100.2% in the 2nd quarter. SG Americas Securities LLC now owns 20,368 shares of the business services provider's stock worth $896,000 after acquiring an additional 10,193 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Genpact by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,336 shares of the business services provider's stock worth $1,819,000 after acquiring an additional 2,925 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

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.