Zacks Investment Research lowered shares of ExlService Holdings, Inc. (NASDAQ:EXLS) from a strong-buy rating to a hold rating in a research report released on Friday.
According to Zacks, “EXLSERVICE HOLDINGS,INC., is a leading provider of offshore Business Process Outsourcing solutions to the Global 1000. EXL is an organization that strives to build lasting relationships with its clients based on consistent high-quality service delivery, trust, and confidence that is unparalleled in the BPO industry today. EXL specializes in providing BPO services to the Banking, Financial Services, Insurance, and Utilities industry verticals. “
EXLS has been the topic of several other research reports. Cowen and Company reaffirmed an outperform rating and set a $54.00 price target on shares of ExlService Holdings in a report on Tuesday, April 11th. Cantor Fitzgerald reaffirmed an overweight rating and set a $56.00 price target (up previously from $50.00) on shares of ExlService Holdings in a report on Wednesday, May 3rd. Needham & Company LLC lifted their price target on shares of ExlService Holdings from $56.00 to $59.00 and gave the company a buy rating in a report on Wednesday, June 21st. BidaskClub downgraded shares of ExlService Holdings from a strong-buy rating to a buy rating in a report on Thursday, July 6th. Finally, Wells Fargo & Company reaffirmed a market perform rating and set a $50.00 price target (up previously from $48.00) on shares of ExlService Holdings in a report on Tuesday, May 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ExlService Holdings has an average rating of Buy and an average target price of $56.50.
ExlService Holdings (EXLS) remained flat at $55.17 during mid-day trading on Friday. 116,612 shares of the company’s stock traded hands. The firm’s 50-day moving average is $52.62 and its 200-day moving average is $48.81. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 29.50 and a beta of 1.29. ExlService Holdings has a 52 week low of $42.00 and a 52 week high of $56.66.
ExlService Holdings (NASDAQ:EXLS) last issued its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. ExlService Holdings had a net margin of 9.22% and a return on equity of 13.59%. The business had revenue of $183.03 million for the quarter, compared to the consensus estimate of $176.96 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts anticipate that ExlService Holdings will post $2.57 EPS for the current fiscal year.
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In other news, CEO Rohit Kapoor sold 13,400 shares of the business’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $46.07, for a total value of $617,338.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vishal Chhibbar sold 1,234 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $55.80, for a total transaction of $68,857.20. Following the completion of the transaction, the chief financial officer now directly owns 7,119 shares in the company, valued at approximately $397,240.20. The disclosure for this sale can be found here. Insiders sold 258,970 shares of company stock worth $12,885,390 in the last three months. Insiders own 5.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in ExlService Holdings during the first quarter valued at approximately $133,000. Ladenburg Thalmann Financial Services Inc. increased its stake in ExlService Holdings by 580.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,036 shares of the business services provider’s stock worth $153,000 after buying an additional 2,590 shares during the last quarter. State of Alaska Department of Revenue increased its stake in ExlService Holdings by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,700 shares of the business services provider’s stock worth $175,000 after buying an additional 70 shares during the last quarter. Victory Capital Management Inc. increased its stake in ExlService Holdings by 72.6% in the first quarter. Victory Capital Management Inc. now owns 3,918 shares of the business services provider’s stock worth $186,000 after buying an additional 1,648 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in ExlService Holdings during the first quarter worth about $187,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
ExlService Holdings Company Profile
ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.
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