Genpact Limited (NYSE:G) Short Interest Down 7.6% in December

Genpact Limited (NYSE:G) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 5,090,000 shares, a decrease of 7.6% from the December 15th total of 5,510,000 shares. Based on an average daily trading volume, of 1,310,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 3.2% of the shares of the stock are sold short.

Genpact Price Performance

Shares of G traded up $0.29 during mid-day trading on Monday, hitting $45.13. 956,882 shares of the company traded hands, compared to its average volume of 1,135,612. 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 business has a 50-day moving average of $44.44 and a 200 day moving average of $39.78. Genpact has a one year low of $30.23 and a one year high of $47.98. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.43 and a beta of 1.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective 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. Finally, Needham & Company LLC lifted their target price on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.33.

Insider Activity

In related news, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $42.83, for a total value of $513,960.00. Following the sale, the senior vice president now owns 151,182 shares of the company’s stock, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $44.60, for a total value of $606,560.00. Following the transaction, the chief executive officer now owns 267,404 shares of the company’s stock, valued at $11,926,218.40. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock worth $1,558,675. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genpact

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in Genpact by 6.5% in the third quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock valued at $162,318,000 after acquiring an additional 252,674 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Genpact by 12.6% in the 3rd 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 last quarter. Dimensional Fund Advisors LP grew its stake in shares of Genpact by 34.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock worth $107,065,000 after purchasing an additional 847,249 shares during the period. JPMorgan Chase & Co. increased its holdings in Genpact by 192.8% in the third quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock valued at $122,701,000 after purchasing an additional 2,060,595 shares during the last quarter. Finally, Vulcan Value Partners LLC lifted its stake in Genpact by 22.2% in the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock valued at $50,456,000 after buying an additional 284,842 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

About Genpact

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.