Short Interest in Genpact Limited Drops By 54.4% (G)
Genpact Limited (NYSE:G) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 2,467,333 shares, a decline of 54.4% from the April 15th total of 5,412,777 shares, AnalystRatingsNetwork.com reports. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 545,132 shares, the days-to-cover ratio is currently 4.5 days.
In other Genpact Limited news, Director James Madden sold 20,421 shares of Genpact Limited stock on the open market in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $17.00, for a total value of $347,157.00. Following the transaction, the director now directly owns 13,426 shares of the company’s stock, valued at approximately $228,242. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on G shares. Analysts at Zacks upgraded shares of Genpact Limited from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 13th. They now have a $18.50 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Genpact Limited in a research note on Tuesday, May 6th. They now have a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Genpact Limited presently has an average rating of “Hold” and a consensus target price of $17.79.
Genpact Limited (NYSE:G) opened at 17.20 on Monday. Genpact Limited has a one year low of $13.68 and a one year high of $21.30. The stock’s 50-day moving average is $17.0 and its 200-day moving average is $17.26. The company has a market cap of $3.717 billion and a P/E ratio of 17.50.
Genpact Limited (NYSE:G) last released its earnings data on Monday, May 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $528.20 million for the quarter, compared to the consensus estimate of $527.07 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that Genpact Limited will post $1.04 EPS for the current fiscal year.
Genpact Limited (NYSE:G) is engaged in business process management and information technology services, leveraging the power of processes, analytics and technology to help its clients drive intelligence across their enterprises.
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