Allspring Global Investments Holdings LLC Has $7.03 Million Holdings in ExlService Holdings, Inc. (NASDAQ:EXLS)

Allspring Global Investments Holdings LLC grew its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,081 shares of the business services provider's stock after acquiring an additional 48,056 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of ExlService worth $7,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EXLS. FMR LLC boosted 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 valued at $415,588,000 after purchasing an additional 2,647,937 shares during the last quarter. Norges Bank bought a new stake in ExlService during the fourth quarter worth $106,452,000. Raymond James Financial Inc. purchased a new stake in ExlService in the 4th quarter valued at $52,852,000. Handelsbanken Fonder AB lifted its stake in ExlService by 25.2% during the 1st 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 in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in ExlService during the 4th quarter worth $20,419,000. 92.92% of the stock is owned by institutional investors and hedge funds.

ExlService Stock Up 1.4%

EXLS opened at $45.26 on Friday. ExlService Holdings, Inc. has a twelve month low of $31.02 and a twelve month high of $52.43. The company's 50-day moving average price is $45.99 and its two-hundred day moving average price is $46.60. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 2.07 and a beta of 0.80. 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 (NASDAQ:EXLS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The business services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $501.02 million during the quarter, compared to analyst estimates of $489.66 million. ExlService had a return on equity of 25.11% and a net margin of 11.36%. ExlService's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, equities analysts expect that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

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

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.

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