Jennison Associates LLC Buys New Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

Jennison Associates LLC acquired a new stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 19,189 shares of the business services provider's stock, valued at approximately $906,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXLS. Forum Financial Management LP acquired a new position in ExlService during the first quarter worth $209,000. Victory Capital Management Inc. increased its holdings in ExlService by 126.7% during the first quarter. Victory Capital Management Inc. now owns 257,824 shares of the business services provider's stock worth $12,172,000 after buying an additional 144,103 shares during the last quarter. Whittier Trust Co. acquired a new position in ExlService during the first quarter worth $45,000. Massachusetts Financial Services Co. MA increased its holdings in ExlService by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 622,129 shares of the business services provider's stock worth $29,371,000 after buying an additional 2,311 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in ExlService during the first quarter worth $8,596,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ExlService news, Director Jaynie M. Studenmund sold 14,580 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $47.53, for a total transaction of $692,987.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vikas Bhalla sold 25,000 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 135,046 shares of the company's stock, valued at approximately $6,226,971.06. The trade was a 15.62% decrease in their position. The disclosure for this sale can be found here. 4.04% of the stock is currently owned by insiders.

ExlService Price Performance

EXLS stock traded down $0.32 during midday trading on Thursday, reaching $42.49. The company had a trading volume of 441,735 shares, compared to its average volume of 1,617,263. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.80. The stock has a 50 day moving average price of $45.24 and a 200-day moving average price of $46.49. ExlService Holdings, Inc. has a 1-year low of $31.87 and a 1-year high of $52.43. 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 (NASDAQ:EXLS - Get Free Report) last posted 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 the consensus estimate of $489.66 million. ExlService had a return on equity of 25.11% and a net margin of 11.36%. ExlService's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Equities research analysts expect that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXLS. Wall Street Zen upgraded shares of ExlService from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 price objective on shares of ExlService in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. lifted their price objective 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.50.

ExlService 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.