Bessemer Group Inc. Sells 511,878 Shares of ExlService Holdings, Inc. $EXLS

Key Points

• Bessemer Group slashed its ExlService stake by 99.6%, selling 511,878 shares during the first quarter and retaining 2,027 shares valued at approximately $63,000.
• ExlService reported a quarterly earnings and revenue beat, with EPS of $0.58 versus the $0.53 consensus and revenue of $570.35 million; revenue increased 13.8% year over year.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $40.50 versus the reported share price of $30.53, despite one recent downgrade to “Sell.”

Bessemer Group Inc. cut its stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 99.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,027 shares of the business services provider's stock after selling 511,878 shares during the quarter. Bessemer Group Inc.'s holdings in ExlService were worth $63,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXLS. AQR Capital Management LLC boosted its stake in ExlService by 109.7% in the 4th quarter. AQR Capital Management LLC now owns 4,118,625 shares of the business services provider's stock worth $174,794,000 after purchasing an additional 2,154,652 shares during the period. Amundi bought a new position in shares of ExlService in the third quarter valued at approximately $67,862,000. Jane Street Group LLC grew its stake in ExlService by 534.2% during the second quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider's stock valued at $59,318,000 after acquiring an additional 1,141,008 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in ExlService by 4,269.6% during the second quarter. Qube Research & Technologies Ltd now owns 882,480 shares of the business services provider's stock valued at $38,644,000 after acquiring an additional 862,284 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in ExlService by 916.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 834,252 shares of the business services provider's stock worth $36,732,000 after acquiring an additional 752,148 shares during the period. 92.92% of the stock is currently owned by institutional investors.

ExlService Stock Performance

NASDAQ:EXLS opened at $30.53 on Wednesday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.20 and a beta of 0.84. The business has a 50 day moving average of $28.00 and a 200 day moving average of $31.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. ExlService Holdings, Inc. has a 1-year low of $24.85 and a 1-year high of $47.11.

ExlService (NASDAQ:EXLS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. The business had revenue of $570.35 million for the quarter, compared to analysts' expectations of $557.67 million. ExlService had a net margin of 11.66% and a return on equity of 28.50%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. On average, sell-side analysts predict that ExlService Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at ExlService

In other ExlService news, insider Vikas Bhalla sold 12,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.22, for a total transaction of $362,640.00. Following the completion of the sale, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ajay Ayyappan sold 5,093 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total value of $148,257.23. Following the transaction, the executive vice president directly owned 48,994 shares in the company, valued at $1,426,215.34. This trade represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EXLS has been the topic of several recent analyst reports. TD Cowen reiterated a "buy" rating and issued a $39.00 target price (down from $45.00) on shares of ExlService in a research note on Thursday, July 9th. Weiss Ratings lowered shares of ExlService from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price target on shares of ExlService from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Barrington Research reiterated an "outperform" rating and issued a $40.00 price objective on shares of ExlService in a research report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ExlService has an average rating of "Moderate Buy" and a consensus target price of $40.50.

ExlService Company Profile

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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