ExlService (NASDAQ:EXLS) Board of Directors Authorizes Stock Buyback Plan

ExlService (NASDAQ:EXLS) declared that its board has authorized a stock buyback plan on Tuesday, March 17th, RTT News reports. The company plans to buyback $125.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

ExlService Stock Performance

NASDAQ EXLS traded up $0.95 on Tuesday, hitting $30.83. 2,481,403 shares of the company traded hands, compared to its average volume of 2,417,240. The business’s 50 day moving average price is $34.93 and its 200-day moving average price is $39.24. ExlService has a 52-week low of $26.94 and a 52-week high of $48.79. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.34 and a beta of 0.91.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Robert W. Baird set a $35.00 price objective on shares of ExlService in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of ExlService in a research report on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $40.00 price target (down from $55.00) on shares of ExlService in a research note on Wednesday, February 25th. Wall Street Zen raised shares of ExlService from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Stifel Nicolaus dropped their price objective on ExlService from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, ExlService has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Insider Buying and Selling at ExlService

In related news, EVP Ajay Ayyappan sold 8,114 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $42.53, for a total transaction of $345,088.42. Following the completion of the transaction, the executive vice president directly owned 53,515 shares of the company’s stock, valued at approximately $2,275,992.95. This trade represents a 13.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 11,586 shares of company stock worth $449,725 in the last three months. 4.04% of the stock is currently owned by corporate insiders.

ExlService Company Profile

ExlService Holdings, Inc (NASDAQ: EXLS) is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.