JPMorgan Chase & Co. Reduces Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

JPMorgan Chase & Co. lowered its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,781,195 shares of the business services provider's stock after selling 106,572 shares during the quarter. JPMorgan Chase & Co. owned 2.97% of ExlService worth $182,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of ExlService by 4.2% during the third quarter. Franklin Resources Inc. now owns 99,057 shares of the business services provider's stock worth $3,953,000 after buying an additional 4,029 shares during the period. Tidal Investments LLC purchased a new stake in shares of ExlService in the 3rd quarter valued at approximately $216,000. Sanctuary Advisors LLC increased its position in shares of ExlService by 5.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,744 shares of the business services provider's stock valued at $410,000 after purchasing an additional 547 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ExlService by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,326,511 shares of the business services provider's stock valued at $165,083,000 after purchasing an additional 149,856 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of ExlService during the 3rd quarter worth $204,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXLS has been the subject of several recent analyst reports. Robert W. Baird boosted their target price on ExlService from $40.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of ExlService from $38.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Needham & Company LLC lifted their price target on shares of ExlService from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. StockNews.com raised shares of ExlService from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Citigroup raised their price objective on ExlService from $38.00 to $46.00 and gave the stock a "buy" rating in a report on Monday, October 14th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.86.

ExlService Price Performance

Shares of ExlService stock traded up $0.12 during trading on Wednesday, reaching $44.38. The company's stock had a trading volume of 934,717 shares, compared to its average volume of 928,861. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $44.72 and a 200-day moving average price of $38.52. ExlService Holdings, Inc. has a 12-month low of $28.16 and a 12-month high of $47.37. The company has a market capitalization of $7.14 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.01.

ExlService (NASDAQ:EXLS - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $472.07 million during the quarter, compared to the consensus estimate of $460.73 million. ExlService had a return on equity of 23.23% and a net margin of 10.61%. The business's revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts anticipate that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

Insider Transactions at ExlService

In other news, Director Jaynie M. Studenmund sold 3,645 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $44.05, for a total transaction of $160,562.25. Following the completion of the transaction, the director now owns 14,580 shares of the company's stock, valued at $642,249. This represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rohit Kapoor sold 100,000 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $46.87, for a total value of $4,687,000.00. Following the sale, the chief executive officer now owns 689,645 shares of the company's stock, valued at approximately $32,323,661.15. The trade was a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 426,458 shares of company stock worth $18,720,514 over the last ninety days. 4.16% of the stock is currently owned by corporate 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.