Needham & Company LLC Forecasts Strong Price Appreciation for Genpact (NYSE:G) Stock

Genpact (NYSE:G) had its price objective raised by research analysts at Needham & Company LLC from $42.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 17.85% from the stock’s current price.

G has been the topic of a number of other reports. Robert W. Baird lifted their target price on shares of Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price target on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their price target on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Finally, TD Cowen boosted their price target on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.33.

Genpact Stock Performance

G opened at $46.67 on Monday. The firm has a market capitalization of $8.32 billion, a PE ratio of 12.82, a PEG ratio of 1.92 and a beta of 1.13. Genpact has a twelve month low of $30.23 and a twelve month high of $47.98. The firm’s 50-day moving average price is $39.34 and its 200 day moving average price is $35.79. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in G. Janney Montgomery Scott LLC acquired a new position in Genpact during the 1st quarter worth approximately $703,000. Empowered Funds LLC acquired a new position in Genpact during the 1st quarter worth approximately $1,937,000. Concurrent Investment Advisors LLC grew its holdings in Genpact by 25.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 23,352 shares of the business services provider’s stock worth $769,000 after acquiring an additional 4,748 shares in the last quarter. Headlands Technologies LLC grew its holdings in Genpact by 2,366.8% during the 1st quarter. Headlands Technologies LLC now owns 5,057 shares of the business services provider’s stock worth $167,000 after acquiring an additional 4,852 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Genpact by 6.5% during the 1st quarter. QRG Capital Management Inc. now owns 58,432 shares of the business services provider’s stock worth $1,925,000 after acquiring an additional 3,589 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

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.