Deutsche Bank Boosts Genpact (NYSE:G) Price Target to $44.00

Genpact (NYSE:G) had its price target upped by Deutsche Bank from $36.00 to $44.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the business services provider’s stock.

Several other research firms have also recently issued reports on G. Bank of America raised their target price on Genpact from $40.00 to $43.00 and gave the stock a buy rating in a research note on Thursday. Zacks Investment Research cut Genpact from a buy rating to a hold rating in a research note on Thursday, May 9th. Needham & Company LLC restated a buy rating and set a $48.00 price target (up from $44.00) on shares of Genpact in a research report on Thursday. Cantor Fitzgerald raised their price target on Genpact from $40.00 to $47.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Wedbush raised their price target on Genpact from $33.00 to $45.00 and gave the stock a neutral rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $38.52.

G stock traded up $0.01 during midday trading on Thursday, hitting $41.92. 1,268,912 shares of the company’s stock were exchanged, compared to its average volume of 1,069,655. The company’s 50-day simple moving average is $38.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $7.98 billion, a PE ratio of 26.20, a PEG ratio of 2.30 and a beta of 0.82. Genpact has a 1-year low of $25.48 and a 1-year high of $44.55.

Genpact (NYSE:G) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $882.79 million during the quarter, compared to analysts’ expectations of $824.84 million. Genpact had a return on equity of 22.61% and a net margin of 8.77%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. Equities research analysts forecast that Genpact will post 1.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.34 annualized dividend and a dividend yield of 0.81%. Genpact’s dividend payout ratio is currently 21.25%.

In related news, insider Private Ltd Gic sold 1,499,806 shares of Genpact stock in a transaction on Friday, May 24th. The stock was sold at an average price of $36.01, for a total value of $54,008,014.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather White sold 1,058 shares of Genpact stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $36.08, for a total value of $38,172.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,001,058 shares of company stock valued at $360,138,173. 1.86% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Genpact by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 36,441 shares of the business services provider’s stock valued at $1,388,000 after purchasing an additional 369 shares during the period. Strs Ohio boosted its holdings in Genpact by 3.8% in the first quarter. Strs Ohio now owns 13,904 shares of the business services provider’s stock valued at $489,000 after purchasing an additional 508 shares during the period. Montag & Caldwell LLC boosted its holdings in Genpact by 4.2% in the first quarter. Montag & Caldwell LLC now owns 15,189 shares of the business services provider’s stock valued at $534,000 after purchasing an additional 609 shares during the period. Signaturefd LLC boosted its holdings in Genpact by 8.9% in the first quarter. Signaturefd LLC now owns 7,627 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 625 shares during the period. Finally, Intrust Bank NA raised its stake in Genpact by 2.9% in the first quarter. Intrust Bank NA now owns 22,980 shares of the business services provider’s stock valued at $809,000 after buying an additional 639 shares in the last quarter. Hedge funds and other institutional investors own 94.16% of the company’s stock.

Genpact Company Profile

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.

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Analyst Recommendations for Genpact (NYSE:G)

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