Mackenzie Financial Corp Sells 3,071,581 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Mackenzie Financial Corp reduced its position in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,958,652 shares of the business services provider's stock after selling 3,071,581 shares during the period. Mackenzie Financial Corp owned about 2.46% of ExlService worth $175,685,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of ExlService in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new stake in shares of ExlService during the 4th quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in shares of ExlService during the 4th quarter valued at $49,000. VisionPoint Advisory Group LLC acquired a new stake in shares of ExlService during the 4th quarter valued at $58,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of ExlService during the 4th quarter valued at $85,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXLS has been the subject of a number of research reports. Needham & Company LLC lifted their target price on shares of ExlService from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted their target price on shares of ExlService from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price 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. Finally, Wall Street Zen raised 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.33.

Insider Transactions at ExlService

In other news, insider Vikas Bhalla sold 25,000 shares of the business's stock in a transaction 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 completion of the sale, the insider now directly owns 135,046 shares in the company, valued at approximately $6,226,971.06. The trade was a 15.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay Ayyappan sold 1,865 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $48.32, for a total transaction of $90,116.80. Following the completion of the sale, the executive vice president now owns 40,986 shares of the company's stock, valued at $1,980,443.52. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,003 shares of company stock worth $2,420,678. 4.04% of the stock is owned by insiders.

ExlService Stock Down 0.4%

EXLS stock traded down $0.17 during trading hours on Thursday, hitting $45.99. The company's stock had a trading volume of 1,271,411 shares, compared to its average volume of 1,050,476. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $7.48 billion, a PE ratio of 40.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.86. ExlService Holdings, Inc. has a 12 month low of $28.59 and a 12 month high of $52.43. The stock has a 50 day moving average price of $45.59 and a two-hundred day moving average price of $46.63.

ExlService (NASDAQ:EXLS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The business services provider reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. ExlService had a net margin of 10.61% and a return on equity of 23.23%. The business had revenue of $501.02 million during the quarter, compared to analysts' expectations of $489.66 million. During the same period in the previous year, the company earned $0.38 earnings per share. ExlService's revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that ExlService Holdings, Inc. will post 1.27 earnings per share 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.