Bank of America Corp DE Raises Stake in ExlService Holdings, Inc. $EXLS

Key Points

• Bank of America more than doubled its ExlService stake in the first quarter, adding 828,520 shares to own 1.51 million shares valued at approximately $45.9 million. Institutional investors and hedge funds collectively own 92.92% of EXLS.
• ExlService shares opened at $34.33, with the stock trading between a 52-week range of $24.85 and $45.08. The company has a $5.20 billion market capitalization and a price-to-earnings ratio of 21.59.
• Analyst sentiment remains broadly positive, with six Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $43.50. Meanwhile, company insiders sold 28,093 shares worth about $895,787 over the past 90 days.

Bank of America Corp DE increased its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 122.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,506,357 shares of the business services provider's stock after purchasing an additional 828,520 shares during the period. Bank of America Corp DE owned 0.99% of ExlService worth $45,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXLS. JPMorgan Chase & Co. boosted its holdings in shares of ExlService by 9.5% in the 4th quarter. JPMorgan Chase & Co. now owns 5,927,793 shares of the business services provider's stock valued at $251,576,000 after buying an additional 514,911 shares in the last quarter. AQR Capital Management LLC raised its stake in ExlService by 109.7% during the 4th quarter. AQR Capital Management LLC now owns 4,118,625 shares of the business services provider's stock valued at $174,794,000 after acquiring an additional 2,154,652 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of ExlService by 10.7% during the fourth quarter. Handelsbanken Fonder AB now owns 3,781,036 shares of the business services provider's stock worth $160,467,000 after purchasing an additional 364,146 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ExlService by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,902,412 shares of the business services provider's stock worth $123,181,000 after buying an additional 32,734 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in ExlService by 71.7% in the third quarter. Squarepoint Ops LLC now owns 1,689,373 shares of the business services provider's stock valued at $74,383,000 after purchasing an additional 705,509 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

ExlService Price Performance

Shares of NASDAQ EXLS opened at $34.33 on Thursday. ExlService Holdings, Inc. has a 1-year low of $24.85 and a 1-year high of $45.08. The business has a 50-day moving average of $29.14 and a 200-day moving average of $30.46. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.40 and a beta of 0.80.

Insider Buying and Selling at ExlService

In related news, EVP Ajay Ayyappan sold 5,093 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total transaction of $148,257.23. Following the completion of the sale, the executive vice president directly owned 48,994 shares of the company's stock, valued at approximately $1,426,215.34. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikas Bhalla sold 12,000 shares of ExlService stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.22, for a total transaction of $362,640.00. Following the sale, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,093 shares of company stock valued at $895,787 over the last 90 days. Insiders own 3.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Robert W. Baird set a $45.00 price objective on shares of ExlService and gave the stock an "outperform" rating in a report on Thursday, July 30th. Barrington Research set a $43.00 price objective on ExlService in a research note on Thursday, July 30th. Needham & Company LLC lifted their price objective on ExlService from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of ExlService from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of ExlService from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

About ExlService

ExlService Holdings, Inc NASDAQ: EXLS is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.

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