TD Cowen Forecasts Strong Price Appreciation for Genpact (NYSE:G) Stock

Genpact (NYSE:G - Free Report) had its price objective boosted by TD Cowen from $40.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a hold rating on the business services provider's stock.

G has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on shares of Genpact from $35.00 to $43.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Robert W. Baird boosted their price target on Genpact from $44.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday. BMO Capital Markets increased their price objective on Genpact from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, August 12th. Needham & Company LLC boosted their target price on shares of Genpact from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price target on shares of Genpact from $35.00 to $40.00 and gave the stock a "hold" rating in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genpact presently has a consensus rating of "Hold" and an average price target of $40.89.

Genpact Stock Up 9.8 %

Shares of NYSE G traded up $4.11 during trading hours on Friday, hitting $45.92. The company had a trading volume of 3,649,568 shares, compared to its average volume of 1,327,889. The stock has a market capitalization of $8.18 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. Genpact has a 1-year low of $29.41 and a 1-year high of $47.98. The firm's 50 day moving average is $39.03 and its 200-day moving average is $35.51. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.52.

Genpact (NYSE:G - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Genpact had a return on equity of 22.28% and a net margin of 14.12%. On average, analysts expect that Genpact will post 2.85 earnings per share for the current fiscal year.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.33%. The ex-dividend date is Monday, December 9th. Genpact's dividend payout ratio (DPR) is currently 17.23%.

Hedge Funds Weigh In On Genpact

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its position in shares of Genpact by 3.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,885 shares of the business services provider's stock worth $270,000 after buying an additional 226 shares during the period. Lecap Asset Management Ltd. grew its holdings in Genpact by 2.1% in the third quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider's stock worth $708,000 after purchasing an additional 364 shares during the period. Suncoast Equity Management increased its stake in Genpact by 3.1% in the third quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider's stock valued at $494,000 after purchasing an additional 375 shares in the last quarter. Sawyer & Company Inc raised its holdings in shares of Genpact by 1.1% during the third quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider's stock valued at $1,421,000 after purchasing an additional 400 shares during the period. Finally, Cloverfields Capital Group LP boosted its position in shares of Genpact by 1.5% during the 1st quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider's stock worth $954,000 after purchasing an additional 416 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.