Allspring Global Investments Holdings LLC Purchases 48,056 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Allspring Global Investments Holdings LLC boosted its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,081 shares of the business services provider's stock after purchasing an additional 48,056 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of ExlService worth $7,028,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its position in ExlService by 1.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 14,270 shares of the business services provider's stock valued at $633,000 after purchasing an additional 214 shares during the period. Balboa Wealth Partners lifted its stake in ExlService by 5.0% during the 1st quarter. Balboa Wealth Partners now owns 5,140 shares of the business services provider's stock valued at $243,000 after acquiring an additional 244 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in ExlService by 0.7% during the 4th quarter. Kensington Investment Counsel LLC now owns 39,207 shares of the business services provider's stock valued at $1,740,000 after acquiring an additional 282 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in ExlService by 1.9% during 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 in the last quarter. Finally, Blue Trust Inc. lifted its stake in ExlService by 13.7% during the 1st quarter. Blue Trust Inc. now owns 3,660 shares of the business services provider's stock valued at $173,000 after acquiring an additional 442 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other ExlService news, insider Vikas Bhalla sold 25,000 shares of ExlService 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 completion of the transaction, the insider owned 135,046 shares of the company's stock, valued at $6,226,971.06. The trade was a 15.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jaynie M. Studenmund sold 14,580 shares of ExlService 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 disclosure for this sale can be found here. Company insiders own 4.04% of the company's stock.

ExlService Stock Performance

Shares of NASDAQ EXLS traded down $0.10 during mid-day trading on Tuesday, reaching $45.09. 1,735,976 shares of the company's stock were exchanged, compared to its average volume of 1,238,626. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. ExlService Holdings, Inc. has a 52 week low of $31.02 and a 52 week high of $52.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.41 and a quick ratio of 3.41. The firm has a 50-day moving average price of $46.01 and a two-hundred day moving average price of $46.63.

ExlService (NASDAQ:EXLS - Get Free Report) last released its 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. The company had revenue of $501.02 million for the quarter, compared to analysts' expectations of $489.66 million. ExlService had a return on equity of 25.11% and a net margin of 11.36%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Analysts predict that ExlService Holdings, Inc. will post 1.27 EPS for the current 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.