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

Genpact Limited (NYSE:G) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 4,650,000 shares, a drop of 5.5% from the September 30th total of 4,920,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on G shares. TD Cowen increased their price target on Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a report on Friday, August 9th. Robert W. Baird boosted their target price on shares of Genpact from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets boosted their price objective on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Finally, Needham & Company LLC raised their target price on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.44.

Genpact Stock Up 0.4 %

Shares of NYSE:G opened at $38.33 on Friday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.61 and a beta of 1.13. Genpact has a 12 month low of $29.41 and a 12 month high of $39.95. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $38.85 and a 200 day moving average price of $35.11.

Genpact (NYSE:G) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. As a group, equities research analysts predict that Genpact will post 2.85 earnings per share for the current year.

Genpact Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a $0.1525 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.61 annualized dividend and a dividend yield of 1.59%. Genpact’s dividend payout ratio (DPR) is presently 17.23%.

Hedge Funds Weigh In On Genpact

Several hedge funds have recently added to or reduced their stakes in G. State of Michigan Retirement System increased its stake in Genpact by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 40,584 shares of the business services provider’s stock worth $1,337,000 after buying an additional 500 shares during the period. Leeward Investments LLC MA boosted its holdings in shares of Genpact by 4.1% in the first quarter. Leeward Investments LLC MA now owns 302,314 shares of the business services provider’s stock valued at $9,961,000 after purchasing an additional 11,804 shares during the period. Retirement Systems of Alabama grew its stake in Genpact by 3.1% in the first quarter. Retirement Systems of Alabama now owns 442,200 shares of the business services provider’s stock worth $14,570,000 after purchasing an additional 13,454 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Genpact by 8.9% in the first quarter. Sequoia Financial Advisors LLC now owns 20,730 shares of the business services provider’s stock worth $683,000 after acquiring an additional 1,686 shares during the period. Finally, Flynn Zito Capital Management LLC increased its position in Genpact by 17.1% during the 1st quarter. Flynn Zito Capital Management LLC now owns 6,959 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 1,016 shares during the period. 96.03% of the stock is currently owned by institutional investors.

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.