Genpact Limited (NYSE:G) Sees Large Growth in Short Interest

Genpact Limited (NYSE:G) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 10,873,946 shares, an increase of 33.3% from the March 31st total of 8,156,518 shares. Approximately 6.5% of the company’s shares are short sold. Based on an average trading volume of 2,581,908 shares, the short-interest ratio is currently 4.2 days.

Insider Buying and Selling at Genpact

In other news, CEO Balkrishan Kalra sold 2,800 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $40.77, for a total transaction of $114,156.00. Following the transaction, the chief executive officer directly owned 525,007 shares in the company, valued at $21,404,535.39. This represents a 0.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.58% of the stock is currently owned by insiders.

Institutional Trading of Genpact

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Genpact by 36.3% during the third quarter. Principal Financial Group Inc. now owns 497,105 shares of the business services provider’s stock worth $20,824,000 after buying an additional 132,310 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Genpact by 17.1% during the third quarter. JPMorgan Chase & Co. now owns 3,762,407 shares of the business services provider’s stock worth $157,609,000 after buying an additional 549,117 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Genpact by 64.3% during the third quarter. Envestnet Asset Management Inc. now owns 533,566 shares of the business services provider’s stock worth $22,351,000 after buying an additional 208,762 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Genpact by 27.5% during the third quarter. ProShare Advisors LLC now owns 153,260 shares of the business services provider’s stock worth $6,420,000 after buying an additional 33,056 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Genpact by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,978,210 shares of the business services provider’s stock worth $166,651,000 after purchasing an additional 319,861 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Stock Up 2.5%

Shares of G traded up $0.84 during mid-day trading on Thursday, reaching $34.72. 4,811,272 shares of the stock traded hands, compared to its average volume of 2,438,705. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.00 and a beta of 0.74. The stock has a fifty day simple moving average of $37.51 and a 200 day simple moving average of $41.43. Genpact has a 12-month low of $33.14 and a 12-month high of $50.41. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.46.

Genpact (NYSE:G) last posted its quarterly earnings data on Friday, February 6th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Genpact had a net margin of 10.88% and a return on equity of 22.02%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Genpact will post 3.6 EPS for the current fiscal year.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.2%. Genpact’s dividend payout ratio (DPR) is presently 23.96%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Mizuho cut their price target on shares of Genpact from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. Wall Street Zen lowered shares of Genpact from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Susquehanna set a $42.00 price target on shares of Genpact in a report on Friday, February 6th. Citigroup upgraded shares of Genpact from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Needham & Company LLC cut their price target on shares of Genpact from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.29.

About Genpact

Genpact is a global professional services firm specializing in digitally powered business process management and services. The company partners with clients across industries to design, transform and run key operations, leveraging data analytics, artificial intelligence, automation and domain expertise. Its offerings span finance and accounting, supply chain management, procurement, customer experience, risk and compliance, and other critical business functions.

Founded in 1997 as the business process outsourcing arm of General Electric and originally known as GE Capital International Services, the company rebranded as Genpact in 2005 and completed its initial public offering on the New York Stock Exchange in 2007 under the ticker symbol “G.” Over time, Genpact has expanded beyond traditional outsourcing to focus on digital transformation and innovation, helping organizations accelerate growth and improve operational efficiency.

Headquartered in New York City, Genpact serves clients in more than 30 countries across North America, Latin America, Europe and Asia Pacific.