Millennium Management LLC Grows Stock Holdings in ExlService Holdings, Inc. $EXLS

Key Points

• Millennium Management LLC significantly increased its stake in ExlService Holdings, acquiring a total of 771,653 shares after raising its position by 1,632.6% in Q1, now valued at approximately $36.43 million.
• ExlService reported a Q2 EPS of $0.49, surpassing expectations of $0.45, and achieved revenue of $514.46 million, a 14.7% increase year-over-year.
• JPMorgan Chase & Co. has adjusted its price target for ExlService from $56.00 to $52.00, while Needham & Company maintains a "buy" rating with a target price of $55.00, indicating strong analyst interest in the stock.

Millennium Management LLC increased its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 1,632.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,653 shares of the business services provider's stock after acquiring an additional 727,117 shares during the quarter. Millennium Management LLC owned about 0.47% of ExlService worth $36,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of EXLS. Ameriprise Financial Inc. raised its holdings in ExlService by 17.4% in the fourth quarter. Ameriprise Financial Inc. now owns 390,158 shares of the business services provider's stock worth $17,315,000 after buying an additional 57,706 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of ExlService by 13.1% during the 4th quarter. Bank of America Corp DE now owns 1,084,413 shares of the business services provider's stock valued at $48,126,000 after acquiring an additional 125,755 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of ExlService during the 4th quarter valued at about $234,000. Cetera Investment Advisers boosted its holdings in shares of ExlService by 5.0% during the 4th quarter. Cetera Investment Advisers now owns 19,943 shares of the business services provider's stock valued at $885,000 after acquiring an additional 958 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of ExlService in the fourth quarter worth approximately $99,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of ExlService in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price target on ExlService from $56.00 to $52.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, ExlService currently has an average rating of "Moderate Buy" and a consensus price target of $51.33.

ExlService Trading Down 0.7%

Shares of EXLS stock traded down $0.31 during trading hours on Monday, reaching $43.28. 121,702 shares of the stock were exchanged, compared to its average volume of 1,591,841. ExlService Holdings, Inc. has a 12-month low of $35.76 and a 12-month high of $52.43. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $43.23 and its 200-day moving average price is $44.95. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85.

ExlService (NASDAQ:EXLS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. ExlService had a return on equity of 25.38% and a net margin of 12.00%.The firm had revenue of $514.46 million for the quarter, compared to the consensus estimate of $504.87 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company's revenue for the quarter was up 14.7% on a year-over-year basis. ExlService has set its FY 2025 guidance at 1.860-1.900 EPS. As a group, equities analysts anticipate 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 8,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $43.76, for a total value of $350,080.00. Following the completion of the sale, the insider directly owned 127,046 shares of the company's stock, valued at $5,559,532.96. The trade was a 5.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.04% of the stock is owned by corporate insiders.

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.