ExlService (NASDAQ:EXLS) Stock Rating Reaffirmed by Needham & Company LLC

ExlService (NASDAQ:EXLS)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $40.00 price target on the business services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 34.91% from the stock’s current price.

A number of other equities analysts also recently commented on EXLS. Citigroup lowered their price objective on ExlService from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Wedbush reissued a “neutral” rating and issued a $34.00 price objective on shares of ExlService in a research report on Wednesday. TD Cowen lifted their price objective on shares of ExlService from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com lowered ExlService from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.14.

ExlService Price Performance

Shares of EXLS opened at $29.65 on Friday. The company has a market cap of $4.82 billion, a P/E ratio of 27.40, a PEG ratio of 1.55 and a beta of 1.00. ExlService has a fifty-two week low of $25.17 and a fifty-two week high of $34.41. The company has a quick ratio of 2.08, a current ratio of 2.54 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average price is $30.54 and its 200 day moving average price is $29.83.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings data 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 company had revenue of $414.06 million for the quarter, compared to analysts’ expectations of $408.56 million. ExlService had a return on equity of 23.13% and a net margin of 10.92%. On average, research analysts forecast that ExlService will post 1.3 earnings per share for the current fiscal year.

Insider Activity at ExlService

In other news, EVP Ajay Ayyappan sold 9,259 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $31.59, for a total value of $292,491.81. Following the completion of the sale, the executive vice president now directly owns 50,693 shares of the company’s stock, valued at approximately $1,601,391.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ajay Ayyappan sold 9,259 shares of ExlService stock in a transaction 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 directly owns 50,693 shares of the company’s stock, valued at approximately $1,601,391.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vikas Bhalla sold 23,760 shares of the stock in a transaction 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 sale, the executive vice president now owns 127,046 shares of the company’s stock, valued at approximately $4,003,219.46. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.

Institutional Trading of ExlService

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXLS. Tandem Investment Advisors Inc. lifted its stake in shares of ExlService by 4.0% in the 4th quarter. Tandem Investment Advisors Inc. now owns 8,579 shares of the business services provider’s stock worth $265,000 after acquiring an additional 333 shares during the period. Choreo LLC raised its holdings in ExlService by 3.2% during the first quarter. Choreo LLC now owns 11,456 shares of the business services provider’s stock worth $364,000 after purchasing an additional 350 shares in the last quarter. Parallel Advisors LLC lifted its position in ExlService by 44.6% in the fourth quarter. Parallel Advisors LLC now owns 1,186 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 366 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in ExlService by 1.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 21,747 shares of the business services provider’s stock valued at $692,000 after purchasing an additional 405 shares in the last quarter. Finally, RiverPark Advisors LLC increased its position in ExlService by 65.2% during the 4th quarter. RiverPark Advisors LLC now owns 1,274 shares of the business services provider’s stock worth $39,000 after purchasing an additional 503 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.