JPMorgan Chase & Co. Raises Genpact (NYSE:G) Price Target to $43.00

Genpact (NYSE:GFree Report) had its price target raised by JPMorgan Chase & Co. from $42.00 to $43.00 in a research report sent to investors on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on the company. StockNews.com raised Genpact from a buy rating to a strong-buy rating in a report on Wednesday, February 7th. Needham & Company LLC restated a buy rating and set a $40.00 price target on shares of Genpact in a research report on Friday. Mizuho started coverage on Genpact in a research report on Tuesday, January 30th. They set a neutral rating and a $40.00 price objective for the company. Citigroup upped their price target on Genpact from $35.00 to $36.00 and gave the stock a neutral rating in a research report on Wednesday, January 17th. Finally, Robert W. Baird reissued a neutral rating and set a $38.00 price target on shares of Genpact in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $40.11.

View Our Latest Stock Report on Genpact

Genpact Trading Down 1.3 %

NYSE G opened at $36.07 on Friday. The firm has a market capitalization of $6.54 billion, a P/E ratio of 10.52, a PEG ratio of 1.64 and a beta of 1.11. The business has a fifty day simple moving average of $34.98 and a 200 day simple moving average of $35.36. Genpact has a 12 month low of $29.41 and a 12 month high of $48.58. The company has a current ratio of 1.44, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

Genpact Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th will be given a dividend of $0.153 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Genpact’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, March 8th. Genpact’s dividend payout ratio (DPR) is presently 16.03%.

Insider Buying and Selling

In related news, SVP Heather White sold 11,450 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction of $412,200.00. Following the completion of the sale, the senior vice president now directly owns 21,175 shares of the company’s stock, valued at approximately $762,300. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.62% of the company’s stock.

Institutional Investors Weigh In On Genpact

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Genpact by 20.8% in the 2nd quarter. BlackRock Inc. now owns 19,355,626 shares of the business services provider’s stock worth $727,191,000 after buying an additional 3,335,821 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Genpact by 154.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,498 shares of the business services provider’s stock valued at $1,719,000 after buying an additional 28,831 shares during the last quarter. California Public Employees Retirement System grew its position in Genpact by 9.3% in the 3rd quarter. California Public Employees Retirement System now owns 612,694 shares of the business services provider’s stock worth $22,180,000 after purchasing an additional 52,263 shares during the last quarter. Lmcg Investments LLC grew its position in Genpact by 2.1% in the 3rd quarter. Lmcg Investments LLC now owns 48,867 shares of the business services provider’s stock worth $1,769,000 after purchasing an additional 1,009 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Genpact during the 3rd quarter valued at about $1,125,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

Genpact Company Profile

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Genpact Limited provides business process outsourcing and information technology (IT) 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 company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting.

Further Reading

Analyst Recommendations for Genpact (NYSE:G)

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