Polen Capital Management LLC Sells 59,473 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Key Points

• Polen Capital Management LLC reduced its stake in ExlService Holdings by 18.6%, selling 59,473 shares, and retains approximately 0.16% of the company valued at $12.3 million.
• Other institutional investors, including Invesco Ltd. and JPMorgan Chase & Co., increased their holdings significantly during the same period, suggesting a mixed sentiment among major investors.
• ExlService reported earnings per share of $0.49, exceeding analysts' expectations, with a revenue of $514.46 million for the quarter, up 14.7% year-over-year.

Polen Capital Management LLC lowered its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,017 shares of the business services provider's stock after selling 59,473 shares during the period. Polen Capital Management LLC owned about 0.16% of ExlService worth $12,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Balboa Wealth Partners increased its position in shares of ExlService by 5.0% during the 1st quarter. Balboa Wealth Partners now owns 5,140 shares of the business services provider's stock valued at $243,000 after purchasing an additional 244 shares during the last quarter. Xponance Inc. increased its position in shares of ExlService by 1.2% during the 1st quarter. Xponance Inc. now owns 23,630 shares of the business services provider's stock valued at $1,116,000 after purchasing an additional 270 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of ExlService by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,112 shares of the business services provider's stock valued at $713,000 after purchasing an additional 286 shares during the last quarter. State of Michigan Retirement System increased its position in shares of ExlService by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 38,500 shares of the business services provider's stock valued at $1,818,000 after purchasing an additional 400 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of ExlService by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 45,100 shares of the business services provider's stock valued at $2,129,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

ExlService Stock Down 1.0%

NASDAQ:EXLS traded down $0.45 during trading hours on Thursday, reaching $42.76. 569,067 shares of the company traded hands, compared to its average volume of 1,648,183. ExlService Holdings, Inc. has a 1 year low of $35.00 and a 1 year high of $52.43. The business's 50-day moving average price is $44.16 and its two-hundred day moving average price is $46.04. 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 stock has a market capitalization of $6.91 billion, a P/E ratio of 29.67, a P/E/G ratio of 1.88 and a beta of 0.81.

ExlService (NASDAQ:EXLS - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $504.87 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. Analysts predict that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

EXLS has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price objective on shares of ExlService in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. raised their price target on ExlService from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen upgraded ExlService from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, ExlService presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.50.

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.