Genpact (NYSE:G) Price Target Lowered to $33.00 at Citigroup

Genpact (NYSE:G) had its target price decreased by Citigroup from $36.00 to $33.00 in a research report released on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the business services provider’s stock.

G has been the subject of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an underweight rating in a research note on Friday, February 9th. Mizuho assumed coverage on Genpact in a research report on Tuesday, January 30th. They set a neutral rating and a $40.00 price target for the company. Needham & Company LLC reiterated a buy rating and set a $40.00 price target on shares of Genpact in a research note on Friday, February 9th. Finally, StockNews.com cut Genpact from a strong-buy rating to a buy rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $39.78.

Genpact Trading Up 0.3 %

Shares of NYSE:G opened at $31.76 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $5.73 billion, a P/E ratio of 9.26, a P/E/G ratio of 1.48 and a beta of 1.07. The business’s 50-day moving average is $33.27 and its 200 day moving average is $34.19. Genpact has a 1 year low of $29.41 and a 1 year high of $44.63.

Genpact (NYSE:G) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. On average, research analysts predict that Genpact will post 2.7 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were paid a $0.153 dividend. This is an increase from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 8th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.93%. Genpact’s dividend payout ratio is presently 17.78%.

Hedge Funds Weigh In On Genpact

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Genpact by 290.8% in the fourth quarter. First Trust Advisors LP now owns 3,071,231 shares of the business services provider’s stock valued at $106,602,000 after buying an additional 2,285,310 shares in the last quarter. Norges Bank acquired a new position in shares of Genpact during the 4th quarter worth approximately $68,683,000. FMR LLC raised its stake in shares of Genpact by 8.1% during the 3rd quarter. FMR LLC now owns 17,644,694 shares of the business services provider’s stock worth $638,738,000 after buying an additional 1,327,435 shares during the period. FIL Ltd raised its stake in shares of Genpact by 16.8% during the 4th quarter. FIL Ltd now owns 5,041,842 shares of the business services provider’s stock worth $175,002,000 after buying an additional 725,198 shares during the period. Finally, Fiduciary Management Inc. WI raised its stake in shares of Genpact by 8.5% during the 4th quarter. Fiduciary Management Inc. WI now owns 7,971,692 shares of the business services provider’s stock worth $276,697,000 after buying an additional 623,794 shares during the period. 96.03% of the stock is owned by hedge funds and other 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.