Genpact Limited (NYSE:G) Short Interest Update

Genpact Limited (NYSE:G) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,960,000 shares, a drop of 22.7% from the March 31st total of 3,830,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.7% of the shares of the company are sold short.

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Genpact from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 10th. Zacks Investment Research cut shares of Genpact from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a research note on Tuesday, February 2nd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $54.00 target price on shares of Genpact in a research note on Friday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Genpact has a consensus rating of “Buy” and an average target price of $45.14.

In other Genpact news, SVP Balkrishan Kalra sold 1,000 shares of Genpact stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $42.80, for a total transaction of $42,800.00. Following the sale, the senior vice president now directly owns 188,268 shares of the company’s stock, valued at $8,057,870.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO N. V. Tyagarajan sold 70,000 shares of Genpact stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $45.01, for a total value of $3,150,700.00. Following the sale, the chief executive officer now directly owns 693,765 shares in the company, valued at $31,226,362.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,147 shares of company stock worth $6,294,447. 1.86% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Brandywine Global Investment Management LLC bought a new stake in shares of Genpact during the 4th quarter valued at $7,383,000. Renaissance Technologies LLC raised its position in shares of Genpact by 427.4% during the 4th quarter. Renaissance Technologies LLC now owns 498,400 shares of the business services provider’s stock valued at $20,614,000 after acquiring an additional 403,900 shares during the last quarter. Truist Financial Corp raised its position in shares of Genpact by 4.4% during the 4th quarter. Truist Financial Corp now owns 166,477 shares of the business services provider’s stock valued at $6,887,000 after acquiring an additional 6,995 shares during the last quarter. Affiance Financial LLC grew its holdings in shares of Genpact by 8.9% in the 4th quarter. Affiance Financial LLC now owns 8,170 shares of the business services provider’s stock valued at $338,000 after buying an additional 668 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Genpact by 76.7% in the 4th quarter. JPMorgan Chase & Co. now owns 92,618 shares of the business services provider’s stock valued at $3,831,000 after buying an additional 40,193 shares during the period. Institutional investors own 97.52% of the company’s stock.

G stock traded down $0.56 during trading on Tuesday, hitting $47.09. The company had a trading volume of 1,727,334 shares, compared to its average volume of 1,699,116. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $44.48 and a 200-day moving average price of $41.40. Genpact has a 12 month low of $31.85 and a 12 month high of $49.00. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 2.13 and a beta of 1.32.

Genpact (NYSE:G) last posted its quarterly earnings data on Monday, February 8th. The business services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. Genpact had a net margin of 8.53% and a return on equity of 21.81%. The firm had revenue of $950.57 million during the quarter, compared to analysts’ expectations of $933.93 million. Equities analysts expect that Genpact will post 1.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Wednesday, March 10th were given a dividend of $0.108 per share. This is a boost from Genpact’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.43 annualized dividend and a dividend yield of 0.92%. Genpact’s payout ratio is presently 27.56%.

About Genpact

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. It operates in three segments: Banking, Capital Markets and Insurance; Consumer Goods, Retail, Life Sciences and Healthcare; and High Tech, Manufacturing and Services.

Further Reading: Systematic Risk and Investors

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