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

Genpact Limited (NYSE:G) was the recipient of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 4,570,000 shares, a decline of 15.5% from the January 31st total of 5,410,000 shares. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is currently 2.9 days. Approximately 2.8% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have commented on G shares. Mizuho upped their target price on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. TD Cowen upgraded Genpact from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $60.00 in a report on Friday, February 7th. Needham & Company LLC increased their target price on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Robert W. Baird boosted their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group upgraded shares of Genpact from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.44.

Insider Buying and Selling

In other news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares in the company, valued at $11,926,218.40. The trade was a 4.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the sale, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at approximately $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. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Genpact by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider’s stock valued at $728,539,000 after purchasing an additional 61,376 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Genpact by 18.1% in the fourth quarter. Victory Capital Management Inc. now owns 9,853,437 shares of the business services provider’s stock valued at $423,205,000 after buying an additional 1,511,790 shares in the last quarter. Franklin Resources Inc. increased its holdings in Genpact by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 4,203,956 shares of the business services provider’s stock worth $180,560,000 after buying an additional 55,771 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Genpact by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,848,449 shares of the business services provider’s stock worth $165,288,000 after acquiring an additional 208,759 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Genpact by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 3,825,344 shares of the business services provider’s stock valued at $170,175,000 after acquiring an additional 133,938 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Genpact Stock Up 1.0 %

Shares of G traded up $0.52 on Friday, hitting $51.53. The company’s stock had a trading volume of 380,296 shares, compared to its average volume of 1,509,667. The firm’s fifty day moving average price is $48.73 and its 200-day moving average price is $43.77. Genpact has a fifty-two week low of $30.23 and a fifty-two week high of $56.76. The company has a quick ratio of 1.85, a current ratio of 2.16 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.84 and a beta of 1.20.

Genpact (NYSE:G) last released its quarterly earnings results on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. On average, equities research analysts expect that Genpact will post 3.21 EPS for the current year.

Genpact Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 11th. Genpact’s payout ratio is 23.94%.

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.