Ballentine Partners LLC Acquires Shares of 6,436 ExlService Holdings, Inc. (NASDAQ:EXLS)

Ballentine Partners LLC purchased a new stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,436 shares of the business services provider's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EXLS. Allspring Global Investments Holdings LLC increased its holdings in shares of ExlService by 48.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 147,081 shares of the business services provider's stock valued at $7,028,000 after acquiring an additional 48,056 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of ExlService by 3.7% in the 1st quarter. QRG Capital Management Inc. now owns 15,713 shares of the business services provider's stock valued at $742,000 after acquiring an additional 559 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of ExlService by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,112 shares of the business services provider's stock valued at $713,000 after acquiring an additional 286 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ExlService by 20.6% in the 1st quarter. GAMMA Investing LLC now owns 3,510 shares of the business services provider's stock valued at $166,000 after acquiring an additional 599 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of ExlService by 13.4% in the 1st quarter. KBC Group NV now owns 7,466 shares of the business services provider's stock valued at $352,000 after acquiring an additional 883 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Insider Buying and Selling

In other news, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.11, for a total value of $1,152,750.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jaynie M. Studenmund sold 14,580 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were 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. Corporate insiders own 4.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EXLS shares. JPMorgan Chase & Co. boosted their price objective on ExlService from $52.00 to $53.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of ExlService in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded ExlService from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's 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 Stock Performance

NASDAQ:EXLS traded up $0.31 during mid-day trading on Thursday, hitting $42.60. 902,045 shares of the company's stock traded hands, compared to its average volume of 1,271,578. The firm has a 50 day moving average of $45.58 and a two-hundred day moving average of $46.54. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80. ExlService Holdings, Inc. has a 12 month low of $31.87 and a 12 month high of $52.43.

ExlService (NASDAQ:EXLS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $501.02 million during the quarter, compared to analysts' expectations of $489.66 million. During the same period in the prior year, the firm posted $0.38 EPS. ExlService's quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

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.