Needham & Company LLC Lowers Genpact (NYSE:G) Price Target to $50.00

Genpact (NYSE:G - Get Free Report) had its target price reduced by stock analysts at Needham & Company LLC from $55.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Needham & Company LLC's price objective would indicate a potential upside of 17.79% from the stock's current price.

A number of other brokerages have also recently weighed in on G. Mizuho raised their price objective on Genpact from $45.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Jefferies Financial Group raised shares of Genpact from a "hold" rating to a "buy" rating and upped their price objective for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. Finally, TD Cowen upgraded shares of Genpact from a "hold" rating to a "buy" rating and lifted their target price for the stock from $45.00 to $60.00 in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $50.71.

Genpact Price Performance

Genpact stock traded up $0.41 during midday trading on Thursday, hitting $42.45. 3,113,784 shares of the company's stock were exchanged, compared to its average volume of 1,354,468. The company has a market cap of $7.46 billion, a P/E ratio of 14.95, a PEG ratio of 1.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The stock has a 50-day moving average price of $48.74 and a two-hundred day moving average price of $47.07. Genpact has a 52-week low of $30.38 and a 52-week high of $56.76.

Genpact (NYSE:G - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.04. Genpact had a net margin of 10.77% and a return on equity of 22.50%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Genpact will post 3.21 earnings per share for the current year.

Insider Transactions at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $48.89, for a total transaction of $664,904.00. Following the completion of the transaction, the chief executive officer now owns 310,246 shares of the company's stock, valued at approximately $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. purchased a new stake in shares of Genpact in the 4th quarter worth approximately $210,000. Tealwood Asset Management Inc. increased its holdings in shares of Genpact by 1.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 24,658 shares of the business services provider's stock valued at $1,059,000 after acquiring an additional 339 shares in the last quarter. Burney Co. increased its holdings in shares of Genpact by 242.8% during the fourth quarter. Burney Co. now owns 130,798 shares of the business services provider's stock valued at $5,618,000 after acquiring an additional 92,641 shares in the last quarter. Sawyer & Company Inc boosted its stake in Genpact by 2.7% in the 4th quarter. Sawyer & Company Inc now owns 37,213 shares of the business services provider's stock worth $1,598,000 after purchasing an additional 970 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Genpact by 6.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 46,179 shares of the business services provider's stock valued at $1,983,000 after purchasing an additional 2,830 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

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.