California Public Employees Retirement System Trims Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

California Public Employees Retirement System trimmed its position in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,798 shares of the business services provider's stock after selling 8,637 shares during the period. California Public Employees Retirement System owned approximately 0.17% of ExlService worth $12,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of ExlService in the 4th quarter worth approximately $106,452,000. Handelsbanken Fonder AB boosted its stake in shares of ExlService by 313.9% in the 4th quarter. Handelsbanken Fonder AB now owns 2,194,690 shares of the business services provider's stock worth $97,400,000 after buying an additional 1,664,400 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ExlService in the 4th quarter worth approximately $52,852,000. American Century Companies Inc. boosted its stake in shares of ExlService by 204.2% in the 4th quarter. American Century Companies Inc. now owns 609,616 shares of the business services provider's stock worth $27,055,000 after buying an additional 409,242 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of ExlService by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,771,191 shares of the business services provider's stock worth $699,925,000 after buying an additional 215,485 shares during the last quarter. 92.92% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EXLS. Stifel Nicolaus boosted their target price on ExlService from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Needham & Company LLC upped their price objective on ExlService from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Jefferies Financial Group upped their price objective on ExlService from $47.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Finally, StockNews.com upgraded ExlService from a "hold" rating to a "buy" rating in a research note on Sunday, February 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $48.86.

ExlService Price Performance

Shares of ExlService stock traded down $1.60 during trading on Thursday, hitting $43.38. The stock had a trading volume of 117,900 shares, compared to its average volume of 982,083. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 38.24, a P/E/G ratio of 2.11 and a beta of 0.91. ExlService Holdings, Inc. has a 12 month low of $28.59 and a 12 month high of $52.43. The business's 50-day moving average is $47.79 and its 200 day moving average is $45.30. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.37.

ExlService (NASDAQ:EXLS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). The firm had revenue of $481.43 million during 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, sell-side analysts anticipate that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Insider Activity at ExlService

In related news, EVP Ajay Ayyappan sold 16,186 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $51.50, for a total value of $833,579.00. Following the sale, the executive vice president now directly owns 40,986 shares of the company's stock, valued at $2,110,779. This trade represents a 28.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Maurizio Nicolelli sold 13,753 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 194,440 shares of the company's stock, valued at $9,554,781.60. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,351 shares of company stock valued at $2,337,284 over the last 90 days. 4.16% of the stock is owned by 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.