Edgestream Partners L.P. Makes New Investment in ExlService Holdings, Inc. (NASDAQ:EXLS)

Edgestream Partners L.P. bought a new stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 182,072 shares of the business services provider's stock, valued at approximately $8,596,000. Edgestream Partners L.P. owned 0.11% of ExlService as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EXLS. FMR LLC raised its stake in ExlService by 39.4% during the 4th quarter. FMR LLC now owns 9,364,312 shares of the business services provider's stock worth $415,588,000 after acquiring an additional 2,647,937 shares during the period. Norges Bank bought a new stake in ExlService during the fourth quarter valued at about $106,452,000. Raymond James Financial Inc. bought a new stake in ExlService during the 4th quarter valued at approximately $52,852,000. Handelsbanken Fonder AB raised its position 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 buying an additional 552,000 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of ExlService during the fourth quarter valued at approximately $20,419,000. 92.92% of the stock is currently owned by institutional investors.

Insider Transactions at ExlService

In other ExlService news, Director Jaynie M. Studenmund sold 14,580 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $47.53, for a total value of $692,987.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.11, for a total value of $1,152,750.00. Following the completion of the sale, the insider directly owned 135,046 shares of the company's stock, valued at approximately $6,226,971.06. This represents a 15.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on EXLS shares. Wall Street Zen raised ExlService from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of ExlService from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of ExlService in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.50.

ExlService Stock Performance

Shares of EXLS stock traded up $0.89 on Wednesday, hitting $42.29. The company had a trading volume of 2,886,745 shares, compared to its average volume of 1,619,466. The firm has a market cap of $6.88 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 1.97 and a beta of 0.80. The company has a 50-day moving average price of $45.65 and a 200-day moving average price of $46.57. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.30. ExlService Holdings, Inc. has a twelve month low of $31.87 and a twelve month high of $52.43.

ExlService (NASDAQ:EXLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. ExlService had a return on equity of 25.11% and a net margin of 11.36%. The company had revenue of $501.02 million during the quarter, compared to the consensus estimate of $489.66 million. During the same period in the previous year, the company posted $0.38 earnings per share. ExlService's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts predict that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

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.