Royal Bank of Canada Sells 422,900 Shares of ExlService Holdings, Inc. $EXLS

Royal Bank of Canada lessened its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 30.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 948,530 shares of the business services provider’s stock after selling 422,900 shares during the quarter. Royal Bank of Canada owned about 0.62% of ExlService worth $28,882,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in ExlService by 716.9% during the first quarter. Quantinno Capital Management LP now owns 396,438 shares of the business services provider’s stock worth $12,072,000 after acquiring an additional 347,906 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of ExlService by 47.1% in the first quarter. Lazard Asset Management LLC now owns 91,551 shares of the business services provider’s stock valued at $2,788,000 after purchasing an additional 29,323 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of ExlService in the first quarter valued at about $3,794,000. Lombard Odier Asset Management USA Corp acquired a new position in shares of ExlService during the 1st quarter worth approximately $280,000. Finally, Waverly Advisors LLC acquired a new position in ExlService during the first quarter worth $262,000. Institutional investors own 92.92% of the company’s stock.

Insider Activity at ExlService

In other ExlService news, EVP Ajay Ayyappan sold 5,093 shares of ExlService stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total transaction of $148,257.23. Following the transaction, the executive vice president directly owned 48,994 shares of the company’s stock, valued at approximately $1,426,215.34. This trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikas Bhalla sold 12,000 shares of ExlService stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.22, for a total transaction of $362,640.00. Following the completion of the transaction, the insider owned 153,295 shares in the company, valued at approximately $4,632,574.90. The trade was a 7.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of ExlService from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. TD Cowen restated a “buy” rating and issued a $39.00 target price (down from $45.00) on shares of ExlService in a research report on Thursday, July 9th. Robert W. Baird set a $45.00 target price on shares of ExlService and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Barrington Research set a $43.00 price target on shares of ExlService in a report on Thursday, July 30th. Finally, Needham & Company LLC raised their price objective on ExlService from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.50.

ExlService Stock Up 0.4%

ExlService stock opened at $34.39 on Wednesday. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.38 and a beta of 0.80. The business has a 50-day simple moving average of $28.52 and a 200 day simple moving average of $30.80. ExlService Holdings, Inc. has a 52 week low of $24.85 and a 52 week high of $45.08.

ExlService 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.