Genpact (NYSE:G) Hits New 12-Month High – Here’s Why

Shares of Genpact Limited (NYSE:G) reached a new 52-week high on Tuesday . The company traded as high as $49.15 and last traded at $48.94, with a volume of 1323947 shares. The stock had previously closed at $48.69.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on G shares. Jefferies Financial Group raised Genpact from a “hold” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Needham & Company LLC lifted their price objective on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen lifted their price objective on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.50.

Genpact Stock Up 0.5 %

The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.61 and a beta of 1.20. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $44.75 and a 200 day moving average price of $40.92.

Genpact (NYSE:G) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Genpact had a return on equity of 21.85% and a net margin of 14.22%. During the same period in the previous year, the business earned $0.67 EPS. Sell-side analysts anticipate that Genpact Limited will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Genpact

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in shares of Genpact by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after purchasing an additional 252,674 shares during the period. Geode Capital Management LLC lifted its position in Genpact by 12.6% during the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock worth $148,142,000 after purchasing an additional 413,646 shares during the period. JPMorgan Chase & Co. lifted its position in Genpact by 192.8% during the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock worth $122,701,000 after purchasing an additional 2,060,595 shares during the period. Tandem Investment Advisors Inc. raised its stake in Genpact by 390.5% during the fourth quarter. Tandem Investment Advisors Inc. now owns 2,129,915 shares of the business services provider’s stock worth $91,480,000 after acquiring an additional 1,695,706 shares in the last quarter. Finally, ARGA Investment Management LP raised its stake in Genpact by 14.1% during the fourth quarter. ARGA Investment Management LP now owns 772,917 shares of the business services provider’s stock worth $33,197,000 after acquiring an additional 95,413 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.