ExlService (NASDAQ:EXLS) Price Target Raised to $45.00

ExlService (NASDAQ:EXLS) had its target price boosted by Needham & Company LLC from $40.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the business services provider’s stock.

Several other research firms have also issued reports on EXLS. Barrington Research reissued an “outperform” rating and issued a $40.00 price target on shares of ExlService in a research report on Thursday, June 25th. TD Cowen restated a “buy” rating and issued a $39.00 price target (down from $45.00) on shares of ExlService in a research note on Thursday, July 9th. Weiss Ratings downgraded ExlService from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of ExlService from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ExlService has a consensus rating of “Moderate Buy” and an average target price of $43.50.

ExlService Trading Down 1.3%

NASDAQ:EXLS opened at $33.93 on Wednesday. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 1.44 and a beta of 0.84. ExlService has a twelve month low of $24.85 and a twelve month high of $45.08. The company has a 50-day moving average of $28.32 and a 200-day moving average of $30.98.

ExlService (NASDAQ:EXLS) last issued its earnings results on Tuesday, April 28th. The business services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. The business had revenue of $570.35 million during the quarter, compared to analysts’ expectations of $557.67 million. ExlService had a return on equity of 30.61% and a net margin of 11.17%.ExlService’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. On average, research analysts forecast that ExlService will post 1.81 earnings per share for the current year.

Insider Transactions at ExlService

In other news, EVP Ajay Ayyappan sold 5,093 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $29.11, for a total value of $148,257.23. Following the transaction, the executive vice president directly owned 48,994 shares in the company, valued at $1,426,215.34. The trade was a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on Thursday, June 4th. The stock was sold at an average price of $30.22, for a total value of $362,640.00. Following the completion of the sale, the insider directly owned 153,295 shares in the company, valued at approximately $4,632,574.90. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ExlService

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Transamerica Financial Advisors LLC boosted its position in shares of ExlService by 285.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 678 shares of the business services provider’s stock valued at $29,000 after buying an additional 502 shares during the period. Private Trust Co. NA raised its holdings in shares of ExlService by 56.2% in the fourth quarter. Private Trust Co. NA now owns 717 shares of the business services provider’s stock worth $30,000 after buying an additional 258 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of ExlService during the 4th quarter worth approximately $33,000. Hantz Financial Services Inc. lifted its stake in shares of ExlService by 183.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,353 shares of the business services provider’s stock worth $57,000 after acquiring an additional 875 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in ExlService during the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About ExlService

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.