493,434 ExlService Holdings, Inc. $EXLS Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its ExlService stake 54.6% in the third quarter, acquiring 493,434 shares and bringing its total holding to about 1.4 million shares, worth roughly $51 million.
• ExlService beat quarterly estimates, reporting EPS of $0.62 versus $0.56 expected and revenue of $633.96 million, up 19.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $48.17.
• Company insider Vikas Bhalla sold 11,000 shares for about $453,000 under a pre-arranged Rule 10b5-1 trading plan; he retained 98,295 shares after the sale.

Allspring Global Investments Holdings LLC raised its holdings in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 54.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,397,701 shares of the business services provider's stock after purchasing an additional 493,434 shares during the period. Allspring Global Investments Holdings LLC owned 0.93% of ExlService worth $50,988,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in ExlService by 14.6% in the third quarter. Versant Capital Management Inc now owns 2,261 shares of the business services provider's stock worth $78,000 after acquiring an additional 288 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of ExlService by 3.2% in the 2nd quarter. QRG Capital Management Inc. now owns 14,604 shares of the business services provider's stock worth $378,000 after purchasing an additional 447 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of ExlService by 1.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 32,241 shares of the business services provider's stock worth $982,000 after purchasing an additional 500 shares during the last quarter. Signature Equity Partners LLC boosted its stake in ExlService by 65.7% in the 3rd quarter. Signature Equity Partners LLC now owns 1,337 shares of the business services provider's stock worth $46,000 after purchasing an additional 530 shares in the last quarter. Finally, Gibbs Wealth Management boosted its stake in ExlService by 5.4% in the 3rd quarter. Gibbs Wealth Management now owns 10,402 shares of the business services provider's stock worth $358,000 after purchasing an additional 535 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on EXLS. Wall Street Zen raised shares of ExlService from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Weiss Ratings raised shares of ExlService from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Barrington Research lifted their target price on shares of ExlService from $43.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, October 29th. TD Cowen upped their target price on shares of ExlService from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus lifted their target price on ExlService from $46.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, October 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.17.

Insiders Place Their Bets

In other ExlService news, insider Vikas Bhalla sold 11,000 shares of ExlService stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $41.22, for a total transaction of $453,420.00. Following the transaction, the insider owned 98,295 shares of the company's stock, valued at $4,051,719.90. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is owned by corporate insiders.

ExlService Trading Up 2.2%

Shares of EXLS stock opened at $44.30 on Wednesday. ExlService Holdings, Inc. has a 12-month low of $24.85 and a 12-month high of $44.36. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average is $38.08 and its 200 day moving average is $32.83. The stock has a market capitalization of $6.68 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.51 and a beta of 0.83.

ExlService (NASDAQ:EXLS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.06. ExlService had a net margin of 11.13% and a return on equity of 32.53%. The company had revenue of $633.96 million for the quarter, compared to the consensus estimate of $615.51 million. During the same quarter last year, the firm posted $0.48 earnings per share. The firm's revenue was up 19.7% compared to the same quarter last year. Research analysts expect that ExlService Holdings, Inc. will post 1.88 earnings per share for the current year.

ExlService Company Profile

ExlService Holdings, commonly known as EXL, is a global data analytics and digital operations company. Founded in 1999, it helps organizations use data, technology and artificial intelligence to improve business processes and customer experiences. EXL provides services including data and analytics, consulting, automation and business process management. Its work spans industries such as insurance, healthcare, banking and financial services, utilities, retail and travel. The company serves clients in multiple countries through a global network of delivery centers.

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