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

Massachusetts Financial Services Co. MA trimmed its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 33.0% in the third quarter, according to its most recent 13F filing 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 approximately 0.51% of ExlService worth $31,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. William Blair Investment Management LLC grew its holdings in ExlService by 46.5% during the 2nd quarter. William Blair Investment Management LLC now owns 5,097,925 shares of the business services provider's stock valued at $159,871,000 after buying an additional 1,618,003 shares in the last quarter. Fiera Capital Corp boosted its position in shares of ExlService by 497.8% in the third quarter. Fiera Capital Corp now owns 800,763 shares of the business services provider's stock valued at $30,549,000 after acquiring an additional 666,805 shares during the period. Handelsbanken Fonder AB increased its holdings in ExlService by 1,216.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 530,290 shares of the business services provider's stock worth $20,231,000 after acquiring an additional 490,000 shares during the period. Mackenzie Financial Corp lifted its stake in ExlService by 3.2% in the 2nd quarter. Mackenzie Financial Corp now owns 7,616,982 shares of the business services provider's stock worth $238,869,000 after purchasing an additional 233,108 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in ExlService by 317.0% in the 2nd quarter. Renaissance Technologies LLC now owns 255,200 shares of the business services provider's stock worth $8,003,000 after purchasing an additional 194,000 shares in the last quarter. Institutional investors own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC lifted their price objective on ExlService from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Citigroup lifted their price target on ExlService from $38.00 to $46.00 and gave the company a "buy" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of ExlService from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Jefferies Financial Group upgraded shares of ExlService from a "hold" rating to a "buy" rating and lifted their target price for the company from $35.00 to $42.00 in a research report on Monday, September 9th. Finally, Robert W. Baird raised 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.86.

ExlService Trading Up 0.5 %

Shares of NASDAQ EXLS traded up $0.25 during midday trading on Tuesday, reaching $47.02. The company had a trading volume of 632,844 shares, compared to its average volume of 948,271. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.37. ExlService Holdings, Inc. has a one year low of $27.95 and a one year high of $47.32. The firm's fifty day moving average price is $40.84 and its 200-day moving average price is $35.62. The stock has a market cap of $7.56 billion, a PE ratio of 41.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99.

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

Insider Transactions at ExlService

In other ExlService news, Director Jaynie M. Studenmund sold 3,645 shares of ExlService stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $44.05, for a total transaction of $160,562.25. Following the sale, the director now directly owns 14,580 shares of the company's stock, valued at approximately $642,249. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rohit Kapoor sold 100,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $41.45, for a total value of $4,145,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,290,240 shares of the company's stock, valued at $53,480,448. This represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 461,458 shares of company stock worth $19,986,814. 4.16% of the stock is currently owned by insiders.

ExlService Company Profile

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.