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

Genpact Limited (NYSE:G) was the target of a significant decrease in short interest during the month of 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 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 Stock Up 0.7 %

Shares of NYSE G traded up $0.29 during trading on Friday, reaching $45.13. The company had a trading volume of 956,882 shares, compared to its average volume of 1,135,612. The business’s 50-day moving average is $44.44 and its 200 day moving average is $39.78. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. The stock has a market cap of $7.96 billion, a PE ratio of 12.40, a P/E/G ratio of 1.43 and a beta of 1.18. Genpact has a 12-month low of $30.23 and a 12-month high of $47.98.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on G shares. Robert W. Baird increased their target price on shares of Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC increased their price objective on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen lifted their price objective on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.33.

Insider Activity at Genpact

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of Genpact stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.40, for a total transaction of $417,600.00. Following the transaction, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at approximately $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Piyush Mehta sold 12,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the sale, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at $6,475,125.06. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $1,558,675 over the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Genpact by 6.5% during 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 purchasing an additional 252,674 shares during the last quarter. Geode Capital Management LLC raised its stake in Genpact by 12.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after buying an additional 413,646 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after buying an additional 847,249 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Genpact by 192.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,129,341 shares of the business services provider’s stock valued at $122,701,000 after buying an additional 2,060,595 shares during the period. Finally, Vulcan Value Partners LLC boosted its stake in shares of Genpact by 22.2% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after buying an additional 284,842 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

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.