JPMorgan Chase & Co. Increases Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

Key Points

• JPMorgan Chase & Co. increased its stake in ExlService Holdings by 40.8%, acquiring an additional 1,943,471 shares in the first quarter, bringing its total holdings to 6,704,937 shares valued at approximately $316.5 million.
• Institutional investors own 92.92% of ExlService's stock, with notable recent investments from firms like Raymond James and Invesco, illustrating strong institutional interest in the company.
• ExlService reported $0.49 EPS and $514.46 million in revenue for the last quarter, exceeding analysts' expectations, and showcasing a year-over-year revenue increase of 14.7%.

JPMorgan Chase & Co. increased its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 40.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,704,937 shares of the business services provider's stock after acquiring an additional 1,943,471 shares during the quarter. JPMorgan Chase & Co. owned about 4.12% of ExlService worth $316,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC acquired a new position in ExlService in the first quarter valued at $379,000. Zions Bancorporation National Association UT acquired a new position in ExlService in the first quarter valued at $3,545,000. Citigroup Inc. increased its stake in ExlService by 29.8% in the first quarter. Citigroup Inc. now owns 244,299 shares of the business services provider's stock valued at $11,533,000 after purchasing an additional 56,112 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in ExlService by 61.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,178 shares of the business services provider's stock valued at $1,141,000 after purchasing an additional 9,225 shares during the period. Finally, Deutsche Bank AG increased its stake in ExlService by 17.4% in the first quarter. Deutsche Bank AG now owns 205,432 shares of the business services provider's stock valued at $9,698,000 after purchasing an additional 30,382 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXLS has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted 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. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of ExlService in a research note on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of ExlService from a "hold" rating to a "buy" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.50.

ExlService Price Performance

EXLS stock traded down $0.50 during trading on Friday, reaching $42.34. 967,108 shares of the company were exchanged, compared to its average volume of 1,817,377. The company has a market cap of $6.84 billion, a P/E ratio of 29.40, a PEG ratio of 1.87 and a beta of 0.81. ExlService Holdings, Inc. has a 52-week low of $35.00 and a 52-week high of $52.43. The stock's 50 day moving average price is $43.96 and its 200 day moving average price is $45.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.15 and a current ratio of 3.15.

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

About ExlService

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.