Needham & Company LLC Increases Genpact (NYSE:G) Price Target to $65.00

Genpact (NYSE:G) had its price objective raised by investment analysts at Needham & Company LLC from $55.00 to $65.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 31.65% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Robert W. Baird upped their price target on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and upped their target price for the stock from $44.00 to $55.00 in a research note on Tuesday, January 21st. Finally, TD Cowen raised Genpact from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $60.00 in a report on Friday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.63.

Genpact Stock Down 0.1 %

G stock opened at $49.38 on Friday. The stock has a market capitalization of $8.71 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. Genpact has a 52 week low of $30.23 and a 52 week high of $49.68. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $44.86 and a 200 day moving average of $41.09.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 21.85% and a net margin of 14.22%. Sell-side analysts forecast that Genpact will post 2.94 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the sale, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the transaction, the chief executive officer now directly owns 267,404 shares in the company, valued at $11,926,218.40. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock valued at $1,558,675. 2.80% of the stock is owned by company insiders.

Institutional Trading of Genpact

Several large investors have recently made changes to their positions in the company. SRH Advisors LLC purchased a new stake in Genpact during the 4th quarter valued at about $26,000. Manchester Capital Management LLC purchased a new stake in shares of Genpact in the fourth quarter valued at approximately $38,000. Smartleaf Asset Management LLC increased its holdings in shares of Genpact by 416.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 783 shares during the last quarter. UMB Bank n.a. lifted its position in Genpact by 55.7% during the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after buying an additional 433 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in Genpact by 38.8% during the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider’s stock worth $69,000 after buying an additional 453 shares during the last quarter. 96.03% of the stock is currently 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.