ExlService (NASDAQ:EXLS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of ExlService (NASDAQ:EXLS - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $55.00 target price on the business services provider's stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of ExlService from $52.00 to $53.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. 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. Finally, Wall Street Zen upgraded ExlService from a "hold" rating to a "buy" rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.50.

ExlService Trading Up 0.5%

ExlService stock traded up $0.23 during mid-day trading on Tuesday, hitting $46.87. The company's stock had a trading volume of 897,915 shares, compared to its average volume of 1,055,418. 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 company has a 50 day moving average of $45.53 and a 200-day moving average of $46.64. ExlService has a one year low of $28.59 and a one year high of $52.43. The stock has a market cap of $7.63 billion, a PE ratio of 41.11, a P/E/G ratio of 2.11 and a beta of 0.86.

ExlService (NASDAQ:EXLS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The business services provider reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. ExlService had a net margin of 10.61% and a return on equity of 23.23%. The firm had revenue of $501.02 million for the quarter, compared to analysts' expectations of $489.66 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts anticipate that ExlService will post 1.27 EPS for the current year.

Insider Buying and Selling

In other ExlService news, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.11, for a total transaction of $1,152,750.00. Following the sale, the insider now directly owns 135,046 shares of the company's stock, valued at approximately $6,226,971.06. This trade represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jaynie M. Studenmund sold 14,580 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $47.53, for a total value of $692,987.40. The disclosure for this sale can be found here. Insiders sold 50,138 shares of company stock valued at $2,330,561 over the last quarter. 4.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ExlService

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in ExlService by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,771,191 shares of the business services provider's stock valued at $699,925,000 after acquiring an additional 215,485 shares during the period. FMR LLC boosted its holdings in ExlService by 39.4% in the 4th quarter. FMR LLC now owns 9,364,312 shares of the business services provider's stock worth $415,588,000 after buying an additional 2,647,937 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ExlService by 40.8% during the 1st quarter. JPMorgan Chase & Co. now owns 6,704,937 shares of the business services provider's stock worth $316,540,000 after buying an additional 1,943,471 shares in the last quarter. Geneva Capital Management LLC raised its holdings in shares of ExlService by 0.4% during the first quarter. Geneva Capital Management LLC now owns 4,655,565 shares of the business services provider's stock valued at $219,789,000 after acquiring an additional 18,647 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of ExlService by 25.2% during the first quarter. Handelsbanken Fonder AB now owns 2,746,690 shares of the business services provider's stock valued at $129,671,000 after acquiring an additional 552,000 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.