Raymond James Financial Inc. Acquires Shares of 1,190,885 ExlService Holdings, Inc. (NASDAQ:EXLS)

Raymond James Financial Inc. bought a new position in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,190,885 shares of the business services provider's stock, valued at approximately $52,852,000. Raymond James Financial Inc. owned approximately 0.74% of ExlService at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mather Group LLC. bought a new stake in shares of ExlService in the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new stake in shares of ExlService in the 4th quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of ExlService in the 3rd quarter valued at about $27,000. Huntington National Bank lifted its position in shares of ExlService by 2,827.5% in the 3rd quarter. Huntington National Bank now owns 1,171 shares of the business services provider's stock worth $45,000 after purchasing an additional 1,131 shares during the period. Finally, VisionPoint Advisory Group LLC bought a new position in shares of ExlService during the fourth quarter valued at approximately $58,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus upped their target price on ExlService from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. StockNews.com upgraded ExlService from a "hold" rating to a "buy" rating in a research note on Sunday, February 2nd. Needham & Company LLC lifted their target price on ExlService from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group boosted their target price on shares of ExlService from $47.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.38.

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ExlService Price Performance

Shares of NASDAQ EXLS opened at $46.09 on Wednesday. ExlService Holdings, Inc. has a fifty-two week low of $28.16 and a fifty-two week high of $52.43. The company has a market cap of $7.48 billion, a PE ratio of 40.43, a P/E/G ratio of 2.11 and a beta of 1.10. 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 business has a 50-day simple moving average of $48.39 and a two-hundred day simple moving average of $43.80.

ExlService (NASDAQ:EXLS - Get Free Report) last released 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 analyst estimates of $475.68 million. As a group, equities analysts expect that ExlService Holdings, Inc. will post 1.27 EPS for the current fiscal year.

Insider Activity

In other ExlService news, EVP Ajay Ayyappan sold 1,865 shares of ExlService stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $48.32, for a total transaction of $90,116.80. Following the completion of the sale, the executive vice president now owns 40,986 shares of the company's stock, valued at approximately $1,980,443.52. The trade was a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Maurizio Nicolelli sold 13,753 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 194,440 shares in the company, valued at $9,554,781.60. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,793 shares of company stock valued at $1,852,461 over the last ninety days. 4.16% of the stock is currently 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.

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