Genpact Limited (NYSE:G) Short Interest Down 50.0% in September

Genpact Limited (NYSE:G) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 845,600 shares, a decrease of 50.0% from the August 30th total of 1,690,000 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the company’s shares are short sold.

In other news, major shareholder Bain Capital Investors Llc sold 10,621,804 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $40.51, for a total transaction of $430,289,280.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Balkrishan Kalra sold 10,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $40.97, for a total transaction of $409,700.00. Following the transaction, the senior vice president now directly owns 164,016 shares of the company’s stock, valued at approximately $6,719,735.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,580,720 shares of company stock worth $509,578,468. 1.86% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its holdings in Genpact by 9,006.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,951,155 shares of the business services provider’s stock worth $74,320,000 after acquiring an additional 1,929,730 shares during the period. BlackRock Inc. boosted its holdings in Genpact by 17.8% in the 1st quarter. BlackRock Inc. now owns 9,496,584 shares of the business services provider’s stock worth $334,091,000 after acquiring an additional 1,431,928 shares during the period. Vanguard Group Inc. boosted its holdings in Genpact by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,541,672 shares of the business services provider’s stock worth $553,893,000 after acquiring an additional 869,051 shares during the period. Wells Fargo & Company MN boosted its holdings in Genpact by 37.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,337,257 shares of the business services provider’s stock worth $89,026,000 after acquiring an additional 636,974 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Genpact by 33.5% in the 2nd quarter. Marshall Wace LLP now owns 1,689,255 shares of the business services provider’s stock worth $64,344,000 after acquiring an additional 424,264 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective (up previously from $44.00) on shares of Genpact in a research note on Thursday, August 8th. Wedbush upped their price objective on shares of Genpact from $33.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Bank of America upped their price objective on shares of Genpact from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank upped their price objective on shares of Genpact from $36.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald upped their price objective on shares of Genpact from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.70.

G traded up $0.48 on Friday, reaching $38.42. 491,742 shares of the company’s stock were exchanged, compared to its average volume of 963,034. The company’s 50 day moving average is $39.52 and its 200-day moving average is $37.94. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.99 and a beta of 0.80. Genpact has a twelve month low of $25.48 and a twelve month high of $44.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.46 and a current ratio of 1.46.

Genpact (NYSE:G) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $882.79 million during the quarter, compared to the consensus estimate of $824.84 million. Genpact had a net margin of 8.77% and a return on equity of 21.87%. The company’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Sell-side analysts forecast that Genpact will post 1.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Wednesday, September 11th were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, September 10th. Genpact’s dividend payout ratio (DPR) is presently 21.25%.

About Genpact

Genpact Limited provides business process outsourcing and information technology (IT) services North and Latin America, India, rest of Asia, and Europe. Its finance and accounting services include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; enterprise performance management consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls.

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