Invesco Ltd. Increases Stock Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

Invesco Ltd. grew its stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 127.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 701,623 shares of the business services provider's stock after purchasing an additional 393,439 shares during the period. Invesco Ltd. owned about 0.44% of ExlService worth $31,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in ExlService by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,771,191 shares of the business services provider's stock valued at $699,925,000 after buying an additional 215,485 shares in the last quarter. FMR LLC lifted its stake in shares of ExlService by 39.4% in the 4th quarter. FMR LLC now owns 9,364,312 shares of the business services provider's stock valued at $415,588,000 after acquiring an additional 2,647,937 shares during the last quarter. Norges Bank acquired a new stake in shares of ExlService during the 4th quarter valued at $106,452,000. Handelsbanken Fonder AB grew its position in ExlService by 313.9% during the 4th quarter. Handelsbanken Fonder AB now owns 2,194,690 shares of the business services provider's stock worth $97,400,000 after acquiring an additional 1,664,400 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ExlService in the 4th quarter worth about $52,852,000. 92.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on ExlService from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. StockNews.com downgraded shares of ExlService from a "buy" rating to a "hold" rating in a research note on Monday, April 14th. Jefferies Financial Group increased their price objective on ExlService from $47.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC lifted their target price on ExlService from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, ExlService has an average rating of "Moderate Buy" and an average price target of $48.86.

ExlService Trading Up 2.6 %

Shares of NASDAQ:EXLS traded up $1.15 during midday trading on Wednesday, reaching $44.55. The company's stock had a trading volume of 395,503 shares, compared to its average volume of 983,331. ExlService Holdings, Inc. has a fifty-two week low of $28.59 and a fifty-two week high of $52.43. 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 firm has a 50 day moving average price of $46.60 and a two-hundred day moving average price of $45.71. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.11 and a beta of 0.91.

ExlService (NASDAQ:EXLS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). The business had revenue of $481.43 million for the quarter, compared to the consensus estimate of $475.68 million. ExlService had a return on equity of 23.23% and a net margin of 10.61%. As a group, analysts forecast that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Insider Activity

In related news, CFO Maurizio Nicolelli sold 13,753 shares of ExlService stock in a transaction on Monday, January 27th. The shares were sold at an average price of $49.14, for a total value of $675,822.42. Following the completion of the sale, the chief financial officer now owns 194,440 shares of the company's stock, valued at approximately $9,554,781.60. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ajay Ayyappan sold 16,186 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $51.50, for a total transaction of $833,579.00. Following the transaction, the executive vice president now owns 40,986 shares in the company, valued at approximately $2,110,779. The trade was a 28.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,351 shares of company stock worth $2,337,284 in the last three months. Company insiders own 4.16% of the company's stock.

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.