Citigroup Cuts Genpact (NYSE:G) Price Target to $33.00

Genpact (NYSE:G) had its price objective cut by research analysts at Citigroup from $36.00 to $33.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. Citigroup’s target price points to a potential upside of 4.23% from the company’s current price.

G has been the topic of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Genpact in a research report on Friday, February 9th. Mizuho assumed coverage on shares of Genpact in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Genpact has an average rating of “Hold” and an average price target of $39.78.

Genpact Stock Performance

Shares of G opened at $31.66 on Monday. The firm’s 50 day moving average is $33.35 and its 200-day moving average is $34.20. The stock has a market capitalization of $5.71 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. Genpact has a 12-month low of $29.41 and a 12-month high of $44.83.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Genpact had a net margin of 14.10% and a return on equity of 23.19%. Equities research analysts anticipate that Genpact will post 2.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new position in Genpact during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in Genpact by 106.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock worth $32,000 after acquiring an additional 471 shares in the last quarter. GAMMA Investing LLC bought a new stake in Genpact in the fourth quarter worth approximately $43,000. Covestor Ltd grew its position in Genpact by 140.2% in the third quarter. Covestor Ltd now owns 1,549 shares of the business services provider’s stock worth $56,000 after acquiring an additional 904 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Genpact by 120.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after acquiring an additional 989 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

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.