Citigroup Inc. Increases Stock Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

Key Points

• Citigroup Inc. increased its stake in ExlService Holdings by 29.8%, acquiring an additional 56,112 shares to reach a total of 244,299 shares valued at approximately $11.5 million.
• The company's stock has seen a price drop to $42.34, with a P/E ratio of 29.40 and a market cap of $6.84 billion, following quarterly earnings that exceeded expectations.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" and a price target averaging $51.50, as several firms have upgraded their ratings recently.

Citigroup Inc. increased its holdings in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 244,299 shares of the business services provider's stock after buying an additional 56,112 shares during the period. Citigroup Inc. owned about 0.15% of ExlService worth $11,533,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EXLS. Handelsbanken Fonder AB boosted its position 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 worth $129,671,000 after buying an additional 552,000 shares during the period. Invesco Ltd. lifted its position in shares of ExlService by 127.7% in the 4th quarter. Invesco Ltd. now owns 701,623 shares of the business services provider's stock worth $31,138,000 after purchasing an additional 393,439 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of ExlService in the 4th quarter worth approximately $11,413,000. Northern Trust Corp lifted its position in shares of ExlService by 13.1% in the 4th quarter. Northern Trust Corp now owns 2,178,673 shares of the business services provider's stock worth $96,690,000 after purchasing an additional 252,669 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ExlService in the 1st quarter worth approximately $10,344,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ExlService Trading Down 1.2%

Shares of NASDAQ:EXLS traded down $0.50 during mid-day trading on Friday, hitting $42.34. The company had a trading volume of 967,108 shares, compared to its average volume of 1,817,377. The firm has a fifty day moving average price of $43.96 and a 200 day moving average price of $45.92. The company has a market capitalization of $6.84 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.15 and a quick ratio of 3.15. ExlService Holdings, Inc. has a one year low of $35.00 and a one year high of $52.43.

ExlService (NASDAQ:EXLS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.04. The business had revenue of $514.46 million during the quarter, compared to analyst estimates of $504.87 million. ExlService had a net margin of 12.00% and a return on equity of 25.38%. ExlService's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, research analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

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.