Silvercrest Asset Management Group LLC Purchases New Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

Silvercrest Asset Management Group LLC bought a new position in ExlService Holdings, Inc. (NASDAQ:EXLS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 610,583 shares of the business services provider’s stock, valued at approximately $19,417,000. Silvercrest Asset Management Group LLC owned 0.38% of ExlService at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EXLS. Public Employees Retirement System of Ohio increased its position in ExlService by 439.5% in the third quarter. Public Employees Retirement System of Ohio now owns 1,052 shares of the business services provider’s stock worth $29,000 after buying an additional 857 shares during the period. Raymond James & Associates grew its stake in shares of ExlService by 3.9% in the fourth quarter. Raymond James & Associates now owns 401,356 shares of the business services provider’s stock worth $12,382,000 after purchasing an additional 15,121 shares in the last quarter. Pacer Advisors Inc. boosted its stake in ExlService by 28.2% during the fourth quarter. Pacer Advisors Inc. now owns 24,784 shares of the business services provider’s stock valued at $765,000 after buying an additional 5,457 shares in the last quarter. Blue Trust Inc. boosted its stake in ExlService by 322.5% during the fourth quarter. Blue Trust Inc. now owns 3,308 shares of the business services provider’s stock valued at $93,000 after buying an additional 2,525 shares in the last quarter. Finally, Caprock Group LLC bought a new position in ExlService during the fourth quarter valued at about $202,000. 92.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXLS. Wedbush upgraded ExlService from a “neutral” rating to an “outperform” rating and increased their price target for the company from $34.00 to $40.00 in a research report on Wednesday, May 8th. Citigroup increased their price objective on ExlService from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of ExlService in a research note on Friday, May 3rd. Finally, TD Cowen increased their price objective on ExlService from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ExlService presently has an average rating of “Moderate Buy” and an average price target of $37.33.

ExlService Stock Performance

EXLS traded up $0.52 during midday trading on Tuesday, reaching $35.02. The company’s stock had a trading volume of 398,978 shares, compared to its average volume of 963,132. The stock has a market cap of $5.87 billion, a P/E ratio of 31.89, a PEG ratio of 1.84 and a beta of 1.00. The company has a fifty day simple moving average of $31.24 and a 200 day simple moving average of $30.95. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.35. ExlService Holdings, Inc. has a twelve month low of $25.17 and a twelve month high of $35.08.

ExlService (NASDAQ:EXLS) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $436.51 million for the quarter, compared to analyst estimates of $424.81 million. ExlService had a return on equity of 23.13% and a net margin of 10.92%. Research analysts expect that ExlService Holdings, Inc. will post 1.27 earnings per share for the current year.

Insider Buying and Selling

In other ExlService news, EVP Narasimha Kini sold 14,315 shares of ExlService stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $34.50, for a total value of $493,867.50. Following the completion of the transaction, the executive vice president now owns 164,723 shares in the company, valued at approximately $5,682,943.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Maurizio Nicolelli sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $30.66, for a total transaction of $367,920.00. Following the completion of the sale, the chief financial officer now owns 138,985 shares in the company, valued at $4,261,280.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Narasimha Kini sold 14,315 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $34.50, for a total value of $493,867.50. Following the sale, the executive vice president now owns 164,723 shares of the company’s stock, valued at approximately $5,682,943.50. The disclosure for this sale can be found here. Insiders sold 141,587 shares of company stock worth $4,438,140 in the last 90 days. 3.75% of the stock is owned by company insiders.

ExlService Company Profile

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.