Boston Trust Walden Corp Reduces Stock Position in ExlService Holdings, Inc. $EXLS

Key Points

• Boston Trust Walden Corp cut its stake in ExlService by 4.2%, selling 113,123 shares and now holds 2,608,036 shares (about $110.7M), making EXLS its 19th largest holding.
• Large institutional flows show heavy buying from firms like AQR, Jane Street, Qube Research and Tudor—some positions grew by 500%–4,200%—leaving roughly 92.9% of EXLS owned by hedge funds and other institutions.
• Corporate action and analyst view: ExlService authorized a $125 million buyback (up to ~2.7% of shares) and carries a "Moderate Buy" consensus from analysts with a $43.60 average price target.

Boston Trust Walden Corp cut its stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,608,036 shares of the business services provider's stock after selling 113,123 shares during the period. ExlService makes up about 0.8% of Boston Trust Walden Corp's holdings, making the stock its 19th largest holding. Boston Trust Walden Corp owned approximately 1.64% of ExlService worth $110,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EXLS. AQR Capital Management LLC grew its position in ExlService by 540.4% in the third quarter. AQR Capital Management LLC now owns 1,963,973 shares of the business services provider's stock worth $86,474,000 after acquiring an additional 1,657,317 shares during the period. Amundi purchased a new position in ExlService in the third quarter worth approximately $67,862,000. Jane Street Group LLC grew its position in ExlService by 534.2% in the second quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider's stock worth $59,318,000 after acquiring an additional 1,141,008 shares during the period. Qube Research & Technologies Ltd grew its position in ExlService by 4,269.6% in the second quarter. Qube Research & Technologies Ltd now owns 882,480 shares of the business services provider's stock worth $38,644,000 after acquiring an additional 862,284 shares during the period. Finally, Tudor Investment Corp ET AL grew its position in ExlService by 451.2% in the third quarter. Tudor Investment Corp ET AL now owns 975,894 shares of the business services provider's stock worth $42,969,000 after acquiring an additional 798,831 shares during the period. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

ExlService Stock Up 0.2%

NASDAQ:EXLS opened at $31.87 on Wednesday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32. The stock's fifty day moving average is $30.63 and its two-hundred day moving average is $36.98. ExlService Holdings, Inc. has a 52 week low of $26.94 and a 52 week high of $48.79. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89.

ExlService declared that its board has approved a share repurchase program on Tuesday, March 17th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other ExlService news, EVP Ajay Ayyappan sold 8,114 shares of the company's stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $42.53, for a total transaction of $345,088.42. Following the transaction, the executive vice president directly owned 53,515 shares in the company, valued at $2,275,992.95. This represents a 13.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 11,586 shares of company stock worth $449,725 in the last 90 days. 4.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EXLS has been the subject of several analyst reports. Robert W. Baird set a $35.00 price objective on ExlService in a research report on Wednesday, February 25th. Weiss Ratings reiterated a "hold (c+)" rating on shares of ExlService in a research report on Thursday, January 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective (down from $55.00) on shares of ExlService in a research report on Wednesday, February 25th. Wall Street Zen upgraded ExlService from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Finally, Stifel Nicolaus lowered their price objective on ExlService from $54.00 to $46.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, ExlService currently has an average rating of "Moderate Buy" and a consensus price target of $43.60.

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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