TD Cowen Lowers Genpact (NYSE:G) Price Target to $42.00

Genpact (NYSE:G) had its price objective dropped by analysts at TD Cowen from $47.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 43.30% from the stock’s previous close.

G has been the topic of several other research reports. Susquehanna decreased their price target on Genpact from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings downgraded Genpact from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 24th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Genpact in a report on Friday, May 8th. Robert W. Baird decreased their target price on shares of Genpact from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their target price on shares of Genpact from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.25.

Genpact Price Performance

Shares of NYSE G opened at $29.31 on Thursday. The company has a 50 day moving average of $30.88 and a 200 day moving average of $37.24. The firm has a market cap of $4.97 billion, a P/E ratio of 8.99, a PEG ratio of 0.84 and a beta of 0.61. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.47. Genpact has a twelve month low of $26.85 and a twelve month high of $48.64.

Genpact (NYSE:G) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $0.98 EPS for the quarter. Genpact had a net margin of 11.04% and a return on equity of 22.70%. The firm had revenue of $1.30 billion for the quarter. As a group, research analysts expect that Genpact will post 3.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Genpact

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Genpact by 90.9% in the fourth quarter. AQR Capital Management LLC now owns 6,575,115 shares of the business services provider’s stock valued at $307,584,000 after acquiring an additional 3,131,643 shares in the last quarter. FIL Ltd boosted its holdings in Genpact by 114.4% in the fourth quarter. FIL Ltd now owns 4,802,854 shares of the business services provider’s stock valued at $224,678,000 after purchasing an additional 2,562,484 shares during the period. Clark Capital Management Group Inc. grew its stake in Genpact by 157.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 1,864,198 shares of the business services provider’s stock worth $78,091,000 after purchasing an additional 1,141,480 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Genpact by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,010,764 shares of the business services provider’s stock worth $234,409,000 after purchasing an additional 1,032,554 shares in the last quarter. Finally, Nalanda India Equity Fund Ltd increased its holdings in Genpact by 8.0% during the 4th quarter. Nalanda India Equity Fund Ltd now owns 13,702,500 shares of the business services provider’s stock worth $641,003,000 after purchasing an additional 1,015,556 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Company Profile

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.