Genpact Limited (NYSE:G) Sees Significant Decrease in Short Interest

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

Genpact Trading Up 0.7 %

Shares of Genpact stock traded up $0.29 during trading on Friday, hitting $45.13. The stock had a trading volume of 956,882 shares, compared to its average volume of 1,135,612. Genpact has a 1 year low of $30.23 and a 1 year high of $47.98. The stock has a 50 day simple moving average of $44.44 and a 200 day simple moving average of $39.67. 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 company has a market capitalization of $7.96 billion, a PE ratio of 12.40, a P/E/G ratio of 1.43 and a beta of 1.18.

Analysts Set New Price Targets

Several brokerages recently weighed in on G. Robert W. Baird raised their target price on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC raised their price objective on shares of Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen boosted 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. Eight analysts have rated the stock with 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 target price of $42.33.

Insider Activity

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

Institutional Trading of Genpact

Several large investors have recently added to or reduced their stakes in G. Franklin Resources Inc. lifted its position in shares of Genpact by 6.5% in the third 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 in the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 413,646 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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. grew 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 acquiring an additional 2,060,595 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its stake in shares of 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 worth $50,456,000 after acquiring an additional 284,842 shares during the last quarter. 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.