Short Interest in Genpact Limited (NYSE:G) Drops By 17.5%

Genpact Limited (NYSE:GGet Rating) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 1,880,000 shares, a decrease of 17.5% from the April 15th total of 2,280,000 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 1.8 days.

G stock traded up $0.38 during trading on Tuesday, hitting $43.26. 44,074 shares of the company’s stock were exchanged, compared to its average volume of 1,478,521. The business has a 50-day moving average price of $42.35 and a two-hundred day moving average price of $46.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.50 and a beta of 1.41. Genpact has a 52-week low of $37.68 and a 52-week high of $54.03.

Genpact (NYSE:GGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. Genpact had a net margin of 9.03% and a return on equity of 24.48%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities research analysts anticipate that Genpact will post 2.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its stake in Genpact by 25.2% during the 2nd quarter. Morgan Stanley now owns 226,018 shares of the business services provider’s stock worth $10,267,000 after buying an additional 45,509 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Genpact by 987.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,252 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 2,045 shares during the period. BlackRock Inc. raised its position in Genpact by 5.8% in the 3rd quarter. BlackRock Inc. now owns 16,545,507 shares of the business services provider’s stock valued at $786,077,000 after purchasing an additional 909,038 shares during the last quarter. Barclays PLC boosted its stake in Genpact by 16.7% during the 3rd quarter. Barclays PLC now owns 255,817 shares of the business services provider’s stock worth $12,153,000 after purchasing an additional 36,661 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Genpact by 30.6% during the 3rd quarter. CIBC Asset Management Inc now owns 13,243 shares of the business services provider’s stock worth $629,000 after purchasing an additional 3,099 shares during the period. Institutional investors own 95.82% of the company’s stock.

A number of research firms have issued reports on G. Jefferies Financial Group started coverage on shares of Genpact in a report on Wednesday, January 26th. They set a “hold” rating and a $54.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Genpact from $55.00 to $48.00 in a report on Friday, May 6th. Cowen downgraded Genpact from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $57.00 to $51.00 in a research report on Monday, February 14th. StockNews.com cut shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 12th. Finally, Citigroup lowered their price target on shares of Genpact from $62.00 to $55.00 in a report on Monday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Genpact presently has an average rating of “Buy” and an average target price of $55.71.

About Genpact (Get Rating)

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: Banking, Capital Markets and Insurance; Consumer Goods, Retail, Life Sciences and Healthcare; and High Tech, Manufacturing and Services.

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