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

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

Genpact Price Performance

Shares of NYSE G traded up $0.31 during mid-day trading on Wednesday, hitting $42.95. 705,212 shares of the company’s stock traded hands, compared to its average volume of 1,354,838. The company has a market capitalization of $7.57 billion, a P/E ratio of 11.80, a PEG ratio of 1.56 and a beta of 1.17. The company’s 50-day moving average is $43.31 and its two-hundred day moving average is $38.68. Genpact has a 1 year low of $30.23 and a 1 year 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.

Genpact Announces Dividend

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

Insider Activity at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of Genpact stock in a transaction dated 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 transaction, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at $11,926,218.40. This trade represents a 4.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 23,058 shares of company stock worth $1,044,715. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its holdings in shares of Genpact by 74.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after buying an additional 1,121 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Genpact by 221.3% in the third quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after buying an additional 2,293 shares in the last quarter. Centaurus Financial Inc. purchased a new position in shares of Genpact in the 3rd quarter valued at about $159,000. M&T Bank Corp purchased a new stake in shares of Genpact during the 3rd quarter worth approximately $206,000. Finally, Greenleaf Trust purchased a new position in shares of Genpact in the third quarter valued at $210,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on G shares. Robert W. Baird upped their price target on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. TD Cowen upped their price objective on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a report on Friday, November 8th. Needham & Company LLC raised their target price on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group boosted their price target on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.33.

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.