Norges Bank Purchases Shares of 2,398,656 ExlService Holdings, Inc. (NASDAQ:EXLS)

Norges Bank acquired a new stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,398,656 shares of the business services provider's stock, valued at approximately $106,452,000. Norges Bank owned about 1.49% of ExlService as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in ExlService during the fourth quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in shares of ExlService during the 4th quarter valued at about $26,000. VisionPoint Advisory Group LLC bought a new position in shares of ExlService in the 4th quarter valued at about $58,000. USA Financial Formulas purchased a new position in ExlService in the fourth quarter worth about $58,000. Finally, UMB Bank n.a. increased its stake in ExlService by 17.6% during the fourth quarter. UMB Bank n.a. now owns 1,926 shares of the business services provider's stock worth $85,000 after acquiring an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com upgraded ExlService from a "hold" rating to a "buy" rating in a report on Sunday, February 2nd. Needham & Company LLC lifted their price objective on shares of ExlService from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus increased their target price on shares of ExlService from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group lifted their price target on shares of ExlService from $47.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.86.

Remove Ads

ExlService Trading Down 7.0 %

Shares of EXLS traded down $3.22 during trading hours on Friday, reaching $42.86. 2,021,148 shares of the company traded hands, compared to its average volume of 980,212. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 37.60, a PEG 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 stock's fifty day moving average price is $48.48 and its 200 day moving average price is $45.19. 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 issued its earnings results on Tuesday, February 25th. The business services provider reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). ExlService had a return on equity of 23.23% and a net margin of 10.61%. The company had revenue of $481.43 million during the quarter, compared to the consensus estimate of $475.68 million. Sell-side analysts forecast that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Insiders Place Their Bets

In other ExlService news, EVP Anita Mahon sold 10,558 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $45.92, for a total transaction of $484,823.36. Following the transaction, the executive vice president now directly owns 94,443 shares in the company, valued at $4,336,822.56. This represents a 10.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay Ayyappan sold 16,186 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $51.50, for a total transaction of $833,579.00. Following the completion of the sale, the executive vice president now owns 40,986 shares of the company's stock, valued at approximately $2,110,779. This represents a 28.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,351 shares of company stock worth $2,337,284 in 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.