Nordea Investment Management AB Buys Shares of 552,242 ExlService Holdings, Inc. $EXLS

Key Points

• Nordea Investment Management AB bought a new stake of 552,242 shares in ExlService (about $23.57 million), representing roughly 0.35% of the company at the end of the quarter.
• ExlService's board approved a $125 million share repurchase program (up to about 2.7% of outstanding shares), a sign the board views the stock as potentially undervalued.
• Wall Street sentiment is mixed but tilted positive: the consensus rating is “Moderate Buy” (four Buy, one Hold) with a consensus target of $43.60, though several analysts recently trimmed their price targets.

Nordea Investment Management AB bought a new stake in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 552,242 shares of the business services provider's stock, valued at approximately $23,570,000. Nordea Investment Management AB owned approximately 0.35% of ExlService at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in ExlService by 19.5% in the 4th quarter. GAMMA Investing LLC now owns 3,944 shares of the business services provider's stock valued at $167,000 after purchasing an additional 643 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in ExlService by 451.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 975,894 shares of the business services provider's stock valued at $42,969,000 after purchasing an additional 798,831 shares in the last quarter. IFP Advisors Inc boosted its stake in ExlService by 54.7% during the 3rd quarter. IFP Advisors Inc now owns 4,454 shares of the business services provider's stock worth $201,000 after purchasing an additional 1,575 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of ExlService during the third quarter worth $333,000. Finally, Tevis Investment Management grew its holdings in shares of ExlService by 8.7% during the third quarter. Tevis Investment Management now owns 9,527 shares of the business services provider's stock worth $419,000 after buying an additional 761 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Ajay Ayyappan sold 8,114 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $42.53, for a total value of $345,088.42. Following the completion of the sale, the executive vice president owned 53,515 shares of the company's stock, valued at $2,275,992.95. This represents a 13.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 11,586 shares of company stock valued at $449,725. Insiders own 4.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EXLS shares. Stifel Nicolaus decreased their price target on shares of ExlService from $54.00 to $46.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Robert W. Baird set a $35.00 price objective on shares of ExlService in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of ExlService from a "hold" rating to a "buy" rating in a report on Saturday, February 7th. TD Cowen decreased their target price on shares of ExlService from $51.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of ExlService in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.60.

ExlService Trading Down 1.9%

Shares of EXLS opened at $30.30 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.32. ExlService Holdings, Inc. has a 12-month low of $26.94 and a 12-month high of $48.79. The firm has a 50-day moving average price of $33.76 and a 200 day moving average price of $38.77. The firm has a market capitalization of $4.74 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.39 and a beta of 0.91.

ExlService declared that its board has approved a share repurchase plan on Tuesday, March 17th that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

ExlService Profile

ExlService Holdings, Inc NASDAQ: EXLS is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.

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