Genpact Limited (NYSE:G) Short Interest Down 8.5% in December

Genpact Limited (NYSE:G) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 5,510,000 shares, a drop of 8.5% from the November 30th total of 6,020,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is currently 4.2 days. Currently, 3.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have commented on G. JPMorgan Chase & Co. boosted their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Jefferies Financial Group raised their target price on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Robert W. Baird increased their price objective on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. TD Cowen boosted their price target on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.33.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $44.60, for a total transaction of $606,560.00. Following the sale, the chief executive officer now owns 267,404 shares in the company, valued at $11,926,218.40. This represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 23,058 shares of company stock valued at $1,044,715. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genpact

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 2,060,595 shares during the period. DGS Capital Management LLC boosted its holdings in shares of Genpact by 69.7% in the 3rd quarter. DGS Capital Management LLC now owns 45,800 shares of the business services provider’s stock worth $1,796,000 after buying an additional 18,811 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Genpact during the third quarter valued at about $1,323,000. Franklin Resources Inc. boosted its stake in Genpact by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,148,185 shares of the business services provider’s stock worth $162,318,000 after purchasing an additional 252,674 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Genpact by 52.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,573 shares of the business services provider’s stock worth $650,000 after acquiring an additional 5,734 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Up 0.7 %

NYSE:G traded up $0.31 on Wednesday, hitting $42.95. 705,212 shares of the company’s stock were exchanged, compared to its average volume of 1,354,838. The firm has a 50-day moving average price of $43.31 and a 200-day moving average price of $38.68. Genpact has a 52 week low of $30.23 and a 52 week high of $47.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $7.57 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.56 and a beta of 1.17.

Genpact Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 9th were paid a $0.1525 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.61 annualized dividend and a dividend yield of 1.42%. Genpact’s dividend payout ratio (DPR) is presently 16.76%.

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.