Genpact's (G) "Buy" Rating Reaffirmed at Needham & Company LLC

Genpact (NYSE:G - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $50.00 price target on the business services provider's stock. Needham & Company LLC's price target would indicate a potential upside of 8.89% from the stock's previous close.

G has been the subject of a number of other research reports. Robert W. Baird decreased their price objective on shares of Genpact from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of Genpact from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.14.

Genpact Trading Up 2.1%

Shares of NYSE G traded up $0.93 during midday trading on Monday, hitting $45.92. The company's stock had a trading volume of 1,088,830 shares, compared to its average volume of 1,408,570. Genpact has a 12-month low of $30.38 and a 12-month high of $56.76. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.03 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. The business's 50 day moving average is $44.39 and its two-hundred day moving average is $46.89.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. Genpact had a return on equity of 22.35% and a net margin of 10.88%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $0.73 EPS. Genpact's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Genpact will post 3.21 EPS for the current year.

Insider Activity at Genpact

In other Genpact news, Director Nicholas C. Gangestad purchased 2,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average price of $43.97 per share, with a total value of $87,940.00. Following the transaction, the director owned 2,000 shares of the company's stock, valued at approximately $87,940. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.07% of the company's stock.

Institutional Trading of Genpact

Hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Genpact by 59.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,355 shares of the business services provider's stock valued at $522,000 after purchasing an additional 3,849 shares during the last quarter. 111 Capital acquired a new position in Genpact during the 4th quarter valued at about $301,000. Pictet Asset Management Holding SA purchased a new stake in Genpact in the fourth quarter valued at about $921,000. Proficio Capital Partners LLC purchased a new stake in Genpact in the fourth quarter valued at about $983,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Genpact in the first quarter worth about $2,396,000. 96.03% of the stock is owned by hedge funds and other 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.