Short Interest in Genpact Limited (NYSE:G) Declines By 5.5%

Genpact Limited (NYSE:G) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 4,650,000 shares, a decrease of 5.5% from the September 30th total of 4,920,000 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

A number of brokerages recently issued reports on G. Needham & Company LLC increased their price target on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group raised their target price on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. TD Cowen raised their target price on Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. BMO Capital Markets lifted their price objective on Genpact from $38.00 to $42.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. Finally, Robert W. Baird raised their target price on Genpact from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.44.

Hedge Funds Weigh In On Genpact

Several large investors have recently bought and sold shares of G. Lecap Asset Management Ltd. increased its holdings in Genpact by 2.1% in the third quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider’s stock valued at $708,000 after buying an additional 364 shares in the last quarter. Suncoast Equity Management boosted its holdings in shares of Genpact by 3.1% in the 3rd quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 375 shares during the last quarter. Sawyer & Company Inc lifted its holdings in shares of Genpact by 1.1% during the 3rd quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider’s stock valued at $1,421,000 after acquiring an additional 400 shares in the last quarter. Cloverfields Capital Group LP increased its stake in Genpact by 1.5% during the 1st 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 during the period. Finally, United Services Automobile Association increased its stake in Genpact by 3.3% during the 2nd quarter. United Services Automobile Association now owns 13,388 shares of the business services provider’s stock worth $431,000 after buying an additional 433 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Trading Up 0.6 %

G traded up $0.24 during trading on Friday, hitting $38.41. 281,578 shares of the stock were exchanged, compared to its average volume of 1,313,170. The firm has a 50 day simple moving average of $38.85 and a 200 day simple moving average of $35.11. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.61 and a beta of 1.13. Genpact has a 1 year low of $29.41 and a 1 year high of $39.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.89 and a current ratio of 1.89.

Genpact (NYSE:G) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Genpact had a return on equity of 22.28% and a net margin of 14.12%. As a group, equities analysts expect that Genpact will post 2.85 EPS for the current year.

Genpact Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Monday, December 9th. Genpact’s dividend payout ratio is currently 17.23%.

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.