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

Genpact Limited (NYSE:G) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,970,000 shares, a growth of 9.2% from the May 31st total of 4,550,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.0% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, Director N. V. Tyagarajan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $33.17, for a total value of $33,170.00. Following the completion of the transaction, the director now directly owns 7,300 shares in the company, valued at $242,141. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in shares of Genpact by 22.6% in the 4th quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 347 shares in the last quarter. Lindbrook Capital LLC grew its stake in Genpact by 16.0% during the fourth quarter. Lindbrook Capital LLC now owns 3,020 shares of the business services provider’s stock worth $105,000 after buying an additional 416 shares during the last quarter. Cloverfields Capital Group LP increased its holdings in shares of Genpact by 1.5% during the first quarter. Cloverfields Capital Group LP now owns 28,950 shares of the business services provider’s stock worth $954,000 after buying an additional 416 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of Genpact by 10.4% in the fourth quarter. Johnson Financial Group Inc. now owns 4,800 shares of the business services provider’s stock valued at $167,000 after acquiring an additional 452 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Genpact by 106.3% in the 4th 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. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup dropped their price target on Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. StockNews.com downgraded shares of Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $35.00 price objective on shares of Genpact in a research report on Friday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Genpact in a report on Friday, May 10th. Finally, BMO Capital Markets dropped their price target on Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Genpact Stock Performance

G opened at $31.82 on Thursday. Genpact has a 12-month low of $29.41 and a 12-month high of $39.58. The firm has a market capitalization of $5.73 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The stock’s 50 day moving average price is $32.47 and its two-hundred day moving average price is $33.54. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.36.

Genpact (NYSE:G) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.06. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Genpact had a net margin of 14.21% and a return on equity of 22.71%. On average, equities analysts forecast that Genpact will post 2.7 earnings per share for the current year.

Genpact Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were paid a $0.153 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Monday, June 10th. Genpact’s dividend 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.