Robert W. Baird Raises ExlService (NASDAQ:EXLS) Price Target to $40.00

ExlService (NASDAQ:EXLS) had its price target boosted by Robert W. Baird from $35.00 to $40.00 in a research note released on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the business services provider’s stock.

Several other brokerages have also commented on EXLS. Jefferies Financial Group upgraded shares of ExlService from a hold rating to a buy rating and upped their price objective for the stock from $35.00 to $42.00 in a report on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of ExlService from $38.00 to $41.00 and gave the stock an overweight rating in a report on Friday, September 6th. Citigroup upped their price objective on shares of ExlService from $37.00 to $38.00 and gave the stock a buy rating in a report on Friday, July 12th. Finally, Needham & Company LLC restated a buy rating and issued a $40.00 price objective on shares of ExlService in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.71.

ExlService Price Performance

Shares of NASDAQ EXLS traded up $0.32 during trading on Thursday, hitting $38.96. The company had a trading volume of 25,463 shares, compared to its average volume of 951,924. The stock has a fifty day simple moving average of $36.30 and a two-hundred day simple moving average of $32.78. ExlService has a fifty-two week low of $25.17 and a fifty-two week high of $39.51. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.30.

ExlService (NASDAQ:EXLS) last posted its earnings results on Thursday, August 1st. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $448.40 million for the quarter, compared to analyst estimates of $444.61 million. ExlService had a net margin of 10.45% and a return on equity of 22.92%. ExlService’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. On average, research analysts expect that ExlService will post 1.28 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Narasimha Kini sold 14,315 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $34.50, for a total transaction of $493,867.50. Following the sale, the executive vice president now directly owns 164,723 shares of the company’s stock, valued at $5,682,943.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ExlService news, EVP Narasimha Kini sold 14,315 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $34.50, for a total value of $493,867.50. Following the sale, the executive vice president now directly owns 164,723 shares of the company’s stock, valued at approximately $5,682,943.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rohit Kapoor sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $34.05, for a total transaction of $1,362,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,509,588 shares in the company, valued at approximately $51,401,471.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 149,190 shares of company stock valued at $5,210,726 in the last ninety days. Company insiders own 4.16% of the company’s stock.

Institutional Investors Weigh In On ExlService

A number of large investors have recently modified their holdings of EXLS. V Square Quantitative Management LLC purchased a new stake in shares of ExlService in the 4th quarter valued at approximately $209,000. Goldman Sachs Group Inc. grew its position in shares of ExlService by 118.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,668,368 shares of the business services provider’s stock valued at $51,469,000 after buying an additional 905,144 shares during the last quarter. Vanguard Group Inc. grew its position in shares of ExlService by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,015,630 shares of the business services provider’s stock valued at $524,932,000 after buying an additional 180,928 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of ExlService in the 4th quarter valued at $42,000. Finally, PNC Financial Services Group Inc. grew its position in shares of ExlService by 4.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,867 shares of the business services provider’s stock valued at $520,000 after buying an additional 702 shares during the last quarter. 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.