Genpact Limited (NYSE:G) Short Interest Update

Genpact Limited (NYSE:G) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,990,000 shares, a drop of 8.3% from the August 15th total of 3,260,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.8% of the shares of the stock are sold short.

Genpact Stock Performance

NYSE G opened at $36.82 on Tuesday. The firm has a market capitalization of $6.68 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.43 and a beta of 1.18. Genpact has a 1-year low of $35.31 and a 1-year high of $48.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day simple moving average is $37.18 and its 200-day simple moving average is $39.82.

Genpact (NYSE:G) last released its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Genpact had a return on equity of 25.06% and a net margin of 9.25%. Equities analysts predict that Genpact will post 2.57 EPS for the current year.

Genpact Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Friday, September 8th will be paid a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, September 7th. Genpact’s dividend payout ratio is currently 25.11%.

Analysts Set New Price Targets

A number of research firms recently commented on G. Robert W. Baird decreased their price objective on Genpact from $48.00 to $44.00 in a research note on Thursday, August 10th. TheStreet lowered Genpact from a “b-” rating to a “c+” rating in a research note on Friday, June 9th. Citigroup decreased their price objective on Genpact from $42.00 to $39.00 in a research note on Thursday, August 10th. Wedbush reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Genpact in a research note on Thursday, August 10th. Finally, Needham & Company LLC decreased their price target on Genpact from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Genpact currently has a consensus rating of “Hold” and an average price target of $42.13.

Insider Activity

In other news, CEO N. V. Tyagarajan sold 1,700 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $35.89, for a total value of $61,013.00. Following the completion of the transaction, the chief executive officer now owns 8,300 shares in the company, valued at $297,887. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.62% of the company’s stock.

Institutional Investors Weigh In On Genpact

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of Genpact by 69.1% during the 2nd quarter. Parallel Advisors LLC now owns 773 shares of the business services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Fred Alger Management LLC raised its holdings in shares of Genpact by 136.7% during the 4th quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock valued at $41,000 after buying an additional 507 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of Genpact during the 1st quarter valued at about $42,000. Ronald Blue Trust Inc. increased its holdings in Genpact by 71.5% during the 1st quarter. Ronald Blue Trust Inc. now owns 1,103 shares of the business services provider’s stock worth $51,000 after purchasing an additional 460 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Genpact during the 4th quarter worth approximately $52,000. 96.33% of the stock is currently owned by hedge funds and other institutional investors.

Genpact Company Profile

Genpact Limited provides business process outsourcing and information technology (IT) 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 company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting.