ExlService (NASDAQ:EXLS) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ExlService (NASDAQ:EXLS) in a report released on Friday, Benzinga reports. Needham & Company LLC currently has a $40.00 price target on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded ExlService from a buy rating to a hold rating in a report on Thursday, February 29th. TD Cowen boosted their price objective on shares of ExlService from $36.00 to $37.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. Wedbush reaffirmed a neutral rating and set a $34.00 target price on shares of ExlService in a research note on Wednesday. Finally, Citigroup dropped their target price on ExlService from $38.00 to $37.00 and set a buy rating on the stock in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $36.14.

ExlService Price Performance

EXLS traded down $0.38 during midday trading on Friday, hitting $29.65. The stock had a trading volume of 1,018,769 shares, compared to its average volume of 1,245,322. The company has a market cap of $4.82 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.00. ExlService has a 1 year low of $25.17 and a 1 year high of $34.41. The business has a fifty day moving average of $30.54 and a 200 day moving average of $29.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.08 and a current ratio of 2.54.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings results on Thursday, February 29th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $414.06 million for the quarter, compared to analysts’ expectations of $408.56 million. ExlService had a net margin of 10.92% and a return on equity of 23.13%. As a group, equities analysts forecast that ExlService will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at ExlService

In related news, EVP Vikas Bhalla sold 23,760 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $31.51, for a total transaction of $748,677.60. Following the completion of the sale, the executive vice president now directly owns 127,046 shares in the company, valued at $4,003,219.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ExlService news, EVP Ajay Ayyappan sold 9,259 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $31.59, for a total value of $292,491.81. Following the completion of the transaction, the executive vice president now directly owns 50,693 shares in the company, valued at approximately $1,601,391.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vikas Bhalla sold 23,760 shares of ExlService stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $31.51, for a total transaction of $748,677.60. Following the sale, the executive vice president now owns 127,046 shares in the company, valued at approximately $4,003,219.46. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of ExlService

A number of institutional investors and hedge funds have recently bought and sold shares of EXLS. FinTrust Capital Advisors LLC bought a new stake in shares of ExlService in the 3rd quarter worth about $29,000. Public Employees Retirement System of Ohio lifted its stake in shares of ExlService by 439.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,052 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 857 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of ExlService in the 4th quarter worth approximately $34,000. Parallel Advisors LLC raised its holdings in ExlService by 44.6% during the 4th quarter. Parallel Advisors LLC now owns 1,186 shares of the business services provider’s stock valued at $37,000 after buying an additional 366 shares during the period. Finally, Operose Advisors LLC purchased a new stake in ExlService during the 3rd quarter valued at $38,000. 92.92% of the stock is currently owned by institutional investors.

ExlService Company Profile

ExlService Holdings, Inc operates as a data analytics, and digital operations and solutions company in the United States and internationally. The company operates through Insurance, Healthcare, Analytics, and Emerging Business segments. It also provides digital operations and solutions and analytics-driven services, such as claims processing, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business acquisition, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer service using digital technology, artificial intelligence, machine learning, and advanced automation; digital customer acquisition services using a software-as-a-service delivery model through LifePRO and LISS platforms; subrogation services; and Subrosource software platform, an end-to-end subrogation platform.