Genpact Limited (NYSE:G) Short Interest Update

Genpact Limited (NYSE:G) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 4,970,000 shares, an increase of 9.2% from the May 31st total of 4,550,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 3.3 days.

Genpact Price Performance

Genpact stock opened at $32.03 on Tuesday. Genpact has a 12-month low of $29.41 and a 12-month high of $39.58. The business’s 50-day simple moving average is $32.47 and its 200 day simple moving average is $33.57. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 1.51 and a beta of 1.11.

Genpact (NYSE:G) last released its earnings results on Thursday, May 9th. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.06. Genpact had a return on equity of 22.71% and a net margin of 14.21%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. As a group, research analysts anticipate that Genpact will post 2.7 earnings per share for the current year.

Genpact Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th were paid a $0.153 dividend. This represents a $0.61 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, June 10th. Genpact’s payout ratio is 17.43%.

Insider Transactions at Genpact

In related news, Director N. V. Tyagarajan sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $33.17, for a total value of $33,170.00. Following the completion of the transaction, the director now directly owns 7,300 shares in the company, valued at $242,141. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Genpact

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in shares of Genpact by 0.4% during the third quarter. Northern Trust Corp now owns 1,251,019 shares of the business services provider’s stock worth $45,287,000 after purchasing an additional 4,684 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Genpact during the third quarter worth about $305,000. Trexquant Investment LP grew its holdings in shares of Genpact by 630.0% during the third quarter. Trexquant Investment LP now owns 47,234 shares of the business services provider’s stock worth $1,710,000 after buying an additional 40,764 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Genpact by 63.9% during the third quarter. Tower Research Capital LLC TRC now owns 18,439 shares of the business services provider’s stock worth $667,000 after buying an additional 7,189 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Genpact by 1,624.0% during the third quarter. Truist Financial Corp now owns 350,400 shares of the business services provider’s stock worth $12,684,000 after buying an additional 330,075 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Ratings Changes

G has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Genpact in a report on Friday, May 10th. Wedbush restated a “neutral” rating and set a $35.00 target price on shares of Genpact in a report on Friday, May 10th. StockNews.com cut Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Citigroup decreased their target price on Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Finally, BMO Capital Markets decreased their target price on Genpact from $39.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Genpact currently has an average rating of “Hold” and a consensus price target of $38.00.

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.