Genpact Limited (NYSE:G) Short Interest Down 5.5% in October

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

Institutional Trading of Genpact

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in Genpact by 21.9% during the first quarter. Russell Investments Group Ltd. now owns 266,100 shares of the business services provider’s stock worth $8,768,000 after buying an additional 47,754 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Genpact by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,172,839 shares of the business services provider’s stock worth $565,845,000 after purchasing an additional 218,526 shares during the last quarter. Quantbot Technologies LP grew its position in Genpact by 30.8% in the first quarter. Quantbot Technologies LP now owns 122,874 shares of the business services provider’s stock worth $4,049,000 after acquiring an additional 28,938 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Genpact during the first quarter worth approximately $2,725,000. Finally, Magnetar Financial LLC grew its holdings in shares of Genpact by 46.9% during the 1st quarter. Magnetar Financial LLC now owns 96,560 shares of the business services provider’s stock valued at $3,182,000 after purchasing an additional 30,821 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Genpact from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. BMO Capital Markets upped their price target 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. Needham & Company LLC lifted their price objective on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird upped their target price on Genpact from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group lifted their target price on Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.44.

Genpact Trading Up 0.4 %

Shares of Genpact stock opened at $38.33 on Friday. The company has a market capitalization of $6.83 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.13. The stock has a fifty day simple moving average of $38.85 and a 200 day simple moving average of $35.11. 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.

Genpact (NYSE:G) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Genpact had a net margin of 14.12% and a return on equity of 22.28%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts anticipate that Genpact will post 2.85 earnings per share for the current fiscal year.

Genpact Dividend Announcement

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

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.