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

Genpact Limited (NYSE:G) was the recipient of a significant decline in short interest during 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 company’s stock are sold short. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is presently 3.9 days.

Insider Buying and Selling at Genpact

In other news, SVP Piyush Mehta sold 12,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. This represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $44.60, for a total value of $606,560.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares of the company’s stock, valued at approximately $11,926,218.40. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $1,558,675 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of G. Advisors Asset Management Inc. lifted its stake in Genpact by 3.4% during the third quarter. Advisors Asset Management Inc. now owns 6,885 shares of the business services provider’s stock worth $270,000 after purchasing an additional 226 shares during the period. Tealwood Asset Management Inc. lifted its position in shares of Genpact by 1.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 24,658 shares of the business services provider’s stock worth $1,059,000 after buying an additional 339 shares during the period. Lecap Asset Management Ltd. lifted its position in shares of Genpact by 2.1% during the 3rd quarter. Lecap Asset Management Ltd. now owns 18,059 shares of the business services provider’s stock worth $708,000 after buying an additional 364 shares during the period. Suncoast Equity Management boosted its stake in Genpact by 3.1% in the 3rd quarter. Suncoast Equity Management now owns 12,600 shares of the business services provider’s stock valued at $494,000 after buying an additional 375 shares in the last quarter. Finally, Sawyer & Company Inc grew its position in Genpact by 1.1% in the third quarter. Sawyer & Company Inc now owns 36,243 shares of the business services provider’s stock valued at $1,421,000 after acquiring an additional 400 shares during the period. 96.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on G. Robert W. Baird boosted their target price on shares of Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. TD Cowen boosted their price objective on Genpact from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their target price on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genpact currently has an average rating of “Hold” and a consensus target price of $42.33.

Genpact Stock Performance

Genpact stock traded up $0.29 during trading hours 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 fifty-two week low of $30.23 and a fifty-two week high of $47.98. The company has a market cap of $7.96 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. The company has a 50-day moving average of $44.44 and a two-hundred day 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.

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.