Citigroup Inc. downgraded shares of ExlService Holdings, Inc. (NASDAQ:EXLS) from a buy rating to a neutral rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has $59.00 price target on the business services provider’s stock, up from their prior price target of $54.00.
A number of other research firms also recently weighed in on EXLS. Zacks Investment Research raised ExlService Holdings from a sell rating to a hold rating in a report on Wednesday, May 3rd. Cantor Fitzgerald reaffirmed an overweight rating and set a $56.00 price objective (up from $50.00) on shares of ExlService Holdings in a report on Wednesday, May 3rd. Needham & Company LLC lifted their price objective on ExlService Holdings from $56.00 to $59.00 and gave the company a buy rating in a report on Wednesday, June 21st. Wells Fargo & Company reaffirmed a market perform rating and set a $50.00 price objective (up from $48.00) on shares of ExlService Holdings in a report on Tuesday, May 23rd. Finally, Cowen and Company reaffirmed an outperform rating and set a $54.00 price objective on shares of ExlService Holdings in a report on Tuesday, April 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $57.14.
Shares of ExlService Holdings (EXLS) remained flat at $55.00 during midday trading on Tuesday. The stock had a trading volume of 76,485 shares. ExlService Holdings has a 52-week low of $42.00 and a 52-week high of $56.66. The company has a market cap of $1.85 billion, a PE ratio of 29.41 and a beta of 1.30. The firm has a 50 day moving average price of $54.30 and a 200-day moving average price of $49.28.
ExlService Holdings (NASDAQ:EXLS) last announced its quarterly earnings results on Tuesday, May 2nd. The business services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $183.03 million during the quarter, compared to analysts’ expectations of $176.96 million. ExlService Holdings had a return on equity of 13.59% and a net margin of 9.22%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Equities analysts anticipate that ExlService Holdings will post $2.57 earnings per share for the current year.
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In other news, COO Pavan Bagai sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $47.91, for a total value of $383,280.00. Following the transaction, the chief operating officer now directly owns 106,252 shares of the company’s stock, valued at approximately $5,090,533.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rohit Kapoor sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $46.96, for a total value of $2,254,080.00. The disclosure for this sale can be found here. Insiders sold a total of 232,694 shares of company stock worth $11,672,868 over the last three months. 5.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of ExlService Holdings during the first quarter valued at approximately $133,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of ExlService Holdings by 580.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,036 shares of the business services provider’s stock valued at $153,000 after buying an additional 2,590 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of ExlService Holdings by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,700 shares of the business services provider’s stock valued at $175,000 after buying an additional 70 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ExlService Holdings by 72.6% in the first quarter. Victory Capital Management Inc. now owns 3,918 shares of the business services provider’s stock valued at $186,000 after buying an additional 1,648 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of ExlService Holdings during the first quarter valued at approximately $187,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.
ExlService Holdings Company Profile
ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.
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