Envestnet Asset Management Inc. Sells 43,344 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Envestnet Asset Management Inc. trimmed its holdings in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 6.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 594,673 shares of the business services provider's stock after selling 43,344 shares during the period. Envestnet Asset Management Inc. owned approximately 0.37% of ExlService worth $28,075,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of ExlService during the 4th quarter worth approximately $49,000. Johnson Financial Group Inc. bought a new position in shares of ExlService during the 4th quarter worth approximately $85,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of ExlService during the 4th quarter worth approximately $99,000. Huntington National Bank boosted its holdings in shares of ExlService by 94.9% during the 4th quarter. Huntington National Bank now owns 2,282 shares of the business services provider's stock worth $101,000 after buying an additional 1,111 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of ExlService by 35.2% during the 1st quarter. Fifth Third Bancorp now owns 2,131 shares of the business services provider's stock worth $101,000 after buying an additional 555 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.11, for a total value of $1,152,750.00. Following the completion of the sale, the insider directly owned 135,046 shares of the company's stock, valued at approximately $6,226,971.06. This represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jaynie M. Studenmund sold 14,580 shares of the stock in a transaction on 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. Corporate insiders own 4.04% of the company's stock.

ExlService Stock Down 0.6%

Shares of NASDAQ:EXLS traded down $0.27 during trading on Friday, reaching $42.22. 520,158 shares of the stock were exchanged, compared to its average volume of 1,274,974. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.41 and a quick ratio of 3.41. ExlService Holdings, Inc. has a 1-year low of $31.87 and a 1-year high of $52.43. The stock has a fifty day moving average of $45.52 and a two-hundred day moving average of $46.53. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80.

ExlService (NASDAQ:EXLS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The business services provider reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $501.02 million during the quarter, compared to analyst estimates of $489.66 million. ExlService had a return on equity of 25.11% and a net margin of 11.36%. ExlService's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Research analysts anticipate that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal 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.