Genpact Limited (NYSE:G) Sees Large Decline in Short Interest

Genpact Limited (NYSE:G) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 4,490,000 shares, a decrease of 9.7% from the July 15th total of 4,970,000 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 3.6 days.

Analysts Set New Price Targets

G has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on shares of Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Wedbush reissued a “neutral” rating and issued a $35.00 price target on shares of Genpact in a report on Friday, May 10th. JPMorgan Chase & Co. raised Genpact from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $40.00 in a research note on Wednesday, July 17th. TD Cowen lifted their target price on Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Citigroup lowered their price target on Genpact from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.25.

Insiders Place Their Bets

In related news, Director N. V. Tyagarajan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the transaction, the director now owns 7,300 shares in the company, valued at $242,141. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Genpact

Institutional investors have recently bought and sold shares of the business. ARGA Investment Management LP bought a new position in Genpact during the fourth quarter worth $5,881,000. Russell Investments Group Ltd. boosted its holdings in shares of Genpact by 21.9% during the 1st quarter. Russell Investments Group Ltd. now owns 266,100 shares of the business services provider’s stock worth $8,768,000 after buying an additional 47,754 shares during the period. Vanguard Group Inc. grew its stake in Genpact by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock valued at $565,845,000 after buying an additional 218,526 shares during the last quarter. Running Oak Capital LLC raised its holdings in Genpact by 19.6% in the 1st quarter. Running Oak Capital LLC now owns 241,438 shares of the business services provider’s stock valued at $7,955,000 after acquiring an additional 39,592 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in Genpact by 48.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 216,081 shares of the business services provider’s stock valued at $7,500,000 after acquiring an additional 70,501 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Stock Up 1.0 %

Shares of NYSE:G traded up $0.38 during trading on Monday, hitting $38.66. 918,838 shares of the company were exchanged, compared to its average volume of 1,412,554. Genpact has a fifty-two week low of $29.41 and a fifty-two week high of $38.74. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.60 and a beta of 1.11. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $33.15 and a two-hundred day moving average price of $33.28.

Genpact Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th will be issued a $0.1525 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.58%. Genpact’s payout ratio is 17.43%.

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.