Genpact (NYSE:G) Given New $43.00 Price Target at JPMorgan Chase & Co.

Genpact (NYSE:G) had its target price upped by JPMorgan Chase & Co. from $35.00 to $43.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Wedbush reiterated a neutral rating and set a $35.00 price objective on shares of Genpact in a research note on Friday, May 10th. TD Cowen raised their price target on Genpact from $35.00 to $36.00 and gave the stock a hold rating in a report on Friday, August 9th. Needham & Company LLC upped their price objective on Genpact from $40.00 to $42.00 and gave the stock a buy rating in a research note on Friday, August 9th. Finally, BMO Capital Markets raised their target price on Genpact from $38.00 to $42.00 and gave the company a market perform rating in a research note on Monday, August 12th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $38.63.

Genpact Trading Up 0.4 %

Shares of G opened at $38.34 on Friday. Genpact has a one year low of $29.41 and a one year high of $39.95. The stock has a 50-day moving average price of $35.17 and a 200 day moving average price of $33.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $6.90 billion, a P/E ratio of 10.95, a P/E/G ratio of 1.64 and a beta of 1.11.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Sell-side analysts forecast that Genpact will post 2.85 EPS for the current fiscal year.

Genpact Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be given a $0.1525 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.61 annualized dividend and a dividend yield of 1.59%. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Hedge Funds Weigh In On Genpact

Several hedge funds and other institutional investors have recently added to or reduced their stakes in G. Sanctuary Advisors LLC bought a new position in Genpact during the second quarter valued at about $335,000. Aristides Capital LLC acquired a new position in shares of Genpact during the 2nd quarter valued at about $1,931,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Genpact by 6.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 24,318 shares of the business services provider’s stock valued at $783,000 after acquiring an additional 1,372 shares in the last quarter. Creative Planning lifted its holdings in Genpact by 30.3% in the 2nd quarter. Creative Planning now owns 25,614 shares of the business services provider’s stock worth $825,000 after purchasing an additional 5,950 shares during the last quarter. Finally, Vulcan Value Partners LLC boosted its position in Genpact by 22.2% during the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after purchasing an additional 284,842 shares during the period. Institutional investors own 96.03% of the company’s stock.

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.