Proficio Capital Partners LLC Lowers Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

Proficio Capital Partners LLC cut its holdings in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 97.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,548 shares of the business services provider's stock after selling 191,079 shares during the period. Proficio Capital Partners LLC's holdings in ExlService were worth $215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in ExlService by 39.4% in the fourth quarter. FMR LLC now owns 9,364,312 shares of the business services provider's stock valued at $415,588,000 after acquiring an additional 2,647,937 shares in the last quarter. Norges Bank acquired a new stake in shares of ExlService during the fourth quarter worth $106,452,000. Raymond James Financial Inc. purchased a new position in shares of ExlService during the fourth quarter worth $52,852,000. Handelsbanken Fonder AB raised its holdings in shares of ExlService by 25.2% during the first quarter. Handelsbanken Fonder AB now owns 2,746,690 shares of the business services provider's stock worth $129,671,000 after purchasing an additional 552,000 shares during the last quarter. Finally, Axiom Investors LLC DE purchased a new position in shares of ExlService during the fourth quarter worth $20,419,000. 92.92% of the stock is currently owned by institutional investors.

ExlService Trading Up 1.1%

Shares of ExlService stock traded up $0.46 during mid-day trading on Friday, hitting $42.86. The stock had a trading volume of 1,211,671 shares, compared to its average volume of 3,266,218. The firm has a 50-day moving average of $45.10 and a two-hundred day moving average of $46.47. ExlService Holdings, Inc. has a 12-month low of $31.87 and a 12-month high of $52.43. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 0.30. The firm has a market cap of $6.97 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

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

Insider Buying and Selling

In other ExlService news, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.11, for a total value of $1,152,750.00. Following 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jaynie M. Studenmund sold 14,580 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $47.53, for a total transaction of $692,987.40. The disclosure for this sale can be found here. 4.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on EXLS. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 price objective on shares of ExlService in a report on Tuesday, June 3rd. Wall Street Zen raised shares of ExlService from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ExlService from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

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.