Harvest Fund Management Co. Ltd Buys 9,980 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Harvest Fund Management Co. Ltd raised its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 81.4% in the 1st quarter, Holdings Channel reports. The firm owned 22,247 shares of the business services provider’s stock after acquiring an additional 9,980 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ExlService were worth $1,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EXLS. FMR LLC boosted its holdings in shares of ExlService by 39.4% during the 4th quarter. FMR LLC now owns 9,364,312 shares of the business services provider’s stock valued at $415,588,000 after purchasing an additional 2,647,937 shares during the last quarter. Norges Bank bought a new position in shares of ExlService during the 4th quarter valued at about $106,452,000. Raymond James Financial Inc. bought a new position in shares of ExlService in the 4th quarter valued at about $52,852,000. Handelsbanken Fonder AB lifted its holdings in shares of ExlService by 25.2% in the 1st quarter. Handelsbanken Fonder AB now owns 2,746,690 shares of the business services provider’s stock valued at $129,671,000 after acquiring an additional 552,000 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of ExlService by 127.7% in the 4th quarter. Invesco Ltd. now owns 701,623 shares of the business services provider’s stock valued at $31,138,000 after acquiring an additional 393,439 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Analyst Ratings Changes

EXLS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of ExlService from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Wall Street Zen raised shares of ExlService from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of ExlService in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.50.

Insider Transactions at ExlService

In other news, Director Jaynie M. Studenmund sold 14,580 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $47.53, for a total transaction of $692,987.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vikas Bhalla sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.11, for a total transaction of $1,152,750.00. Following the transaction, the insider directly owned 135,046 shares in the company, valued at approximately $6,226,971.06. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.

ExlService Stock Performance

ExlService stock opened at $42.20 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.41 and a quick ratio of 3.41. ExlService Holdings, Inc. has a 1-year low of $31.87 and a 1-year high of $52.43. The firm has a market capitalization of $6.87 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80. The company’s 50-day moving average is $44.94 and its 200 day moving average is $46.43.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. ExlService had a net margin of 11.36% and a return on equity of 25.11%. The company had revenue of $514.46 million for the quarter, compared to analyst estimates of $504.87 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

About ExlService

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.