TD Cowen Increases ExlService (NASDAQ:EXLS) Price Target to $37.00

ExlService (NASDAQ:EXLS - Free Report) had its target price hoisted by TD Cowen from $36.00 to $37.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the business services provider's stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of ExlService from a buy rating to a hold rating in a research report on Thursday, February 29th. Wedbush reissued a neutral rating and issued a $34.00 price target on shares of ExlService in a research report on Thursday, December 14th. Citigroup raised shares of ExlService from a neutral rating to a buy rating and increased their price target for the stock from $29.00 to $36.00 in a research report on Wednesday, January 17th. Finally, Needham & Company LLC reissued a buy rating and issued a $40.00 price target on shares of ExlService in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $36.00.

ExlService Stock Performance

Shares of NASDAQ:EXLS traded down $0.48 on Tuesday, reaching $30.88. 1,425,114 shares of the company's stock were exchanged, compared to its average volume of 880,822. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 1.66 and a beta of 0.97. ExlService has a fifty-two week low of $25.17 and a fifty-two week high of $35.94. The business's 50-day moving average is $31.15 and its two-hundred day moving average is $29.66. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

ExlService (NASDAQ:EXLS - Get Free Report) last issued its earnings results on Thursday, February 29th. The business services provider reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The business had revenue of $414.06 million for the quarter, compared to analyst estimates of $408.56 million. ExlService had a return on equity of 22.83% and a net margin of 11.32%. As a group, equities research analysts forecast that ExlService will post 1.3 EPS for the current year.

Insider Activity at ExlService

In related news, EVP Ajay Ayyappan sold 9,259 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $31.59, for a total transaction of $292,491.81. Following the transaction, the executive vice president now owns 50,693 shares of the company's stock, valued at $1,601,391.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ExlService news, EVP Vikas Bhalla sold 23,760 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $31.51, for a total transaction of $748,677.60. Following the transaction, the executive vice president now owns 127,046 shares in the company, valued at $4,003,219.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ajay Ayyappan sold 9,259 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $31.59, for a total value of $292,491.81. Following the transaction, the executive vice president now owns 50,693 shares in the company, valued at approximately $1,601,391.87. The disclosure for this sale can be found here. Insiders own 3.75% of the company's stock.

Hedge Funds Weigh In On ExlService

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXLS. Sunbelt Securities Inc. acquired a new stake in shares of ExlService in the first quarter worth $61,000. Quarry LP grew its stake in shares of ExlService by 120.5% in the first quarter. Quarry LP now owns 430 shares of the business services provider's stock worth $70,000 after acquiring an additional 235 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of ExlService in the fourth quarter worth $117,000. Covestor Ltd grew its stake in shares of ExlService by 6,266.7% in the first quarter. Covestor Ltd now owns 955 shares of the business services provider's stock worth $137,000 after acquiring an additional 940 shares during the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of ExlService in the third quarter worth $29,000. Institutional investors and hedge funds own 92.92% of the company's stock.

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.