Massachusetts Financial Services Co. MA Decreases Stock Holdings in ExlService Holdings, Inc. (NASDAQ:EXLS)

Massachusetts Financial Services Co. MA lowered its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 818,605 shares of the business services provider’s stock after selling 403,042 shares during the period. Massachusetts Financial Services Co. MA owned about 0.51% of ExlService worth $31,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EXLS. Quest Partners LLC lifted its holdings in shares of ExlService by 196.8% in the third quarter. Quest Partners LLC now owns 70,015 shares of the business services provider’s stock valued at $2,671,000 after purchasing an additional 46,422 shares in the last quarter. Assetmark Inc. raised its position in shares of ExlService by 107,991.3% in the third quarter. Assetmark Inc. now owns 24,861 shares of the business services provider’s stock valued at $948,000 after buying an additional 24,838 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ExlService by 317.0% in the second quarter. Renaissance Technologies LLC now owns 255,200 shares of the business services provider’s stock valued at $8,003,000 after buying an additional 194,000 shares during the last quarter. Point72 DIFC Ltd raised its position in shares of ExlService by 681.5% in the second quarter. Point72 DIFC Ltd now owns 21,960 shares of the business services provider’s stock valued at $689,000 after buying an additional 19,150 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of ExlService by 46.8% in the second quarter. Canada Pension Plan Investment Board now owns 207,700 shares of the business services provider’s stock valued at $6,513,000 after buying an additional 66,200 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

EXLS has been the subject of a number of analyst reports. StockNews.com raised shares of ExlService from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on shares of ExlService from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird boosted their price objective on shares of ExlService from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price target on shares of ExlService from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised shares of ExlService from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $42.00 in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.86.

ExlService Stock Performance

Shares of EXLS stock opened at $46.77 on Tuesday. ExlService Holdings, Inc. has a one year low of $27.95 and a one year high of $47.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.02 and a current ratio of 3.02. The company has a 50 day moving average price of $40.64 and a 200 day moving average price of $35.50. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99.

ExlService (NASDAQ:EXLS) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. ExlService had a net margin of 10.61% and a return on equity of 23.23%. The company had revenue of $472.07 million during the quarter, compared to the consensus estimate of $460.73 million. During the same period in the previous year, the firm earned $0.30 earnings per share. ExlService’s revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts anticipate that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vikas Bhalla sold 22,813 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $41.86, for a total value of $954,952.18. Following the completion of the transaction, the insider now directly owns 102,825 shares in the company, valued at approximately $4,304,254.50. This represents a 18.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rohit Kapoor sold 100,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $41.45, for a total transaction of $4,145,000.00. Following the completion of the transaction, the chief executive officer now owns 1,290,240 shares of the company’s stock, valued at $53,480,448. This trade represents a 7.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,458 shares of company stock worth $19,986,814 over the last ninety days. 4.16% of the stock is owned by company insiders.

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.