ExlService (NASDAQ:EXLS) Price Target Increased to $41.00 by Analysts at JPMorgan Chase & Co.

ExlService (NASDAQ:EXLS) had its price target boosted by JPMorgan Chase & Co. from $38.00 to $41.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts have also commented on EXLS. Citigroup raised their price objective on ExlService from $37.00 to $38.00 and gave the company a buy rating in a report on Friday, July 12th. Needham & Company LLC reissued a buy rating and set a $40.00 target price on shares of ExlService in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $38.17.

ExlService Stock Down 0.6 %

Shares of EXLS stock opened at $35.49 on Friday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. ExlService has a twelve month low of $25.17 and a twelve month high of $36.88. The stock has a 50 day moving average of $34.32 and a 200 day moving average of $31.73. The stock has a market cap of $5.95 billion, a P/E ratio of 32.86, a P/E/G ratio of 1.92 and a beta of 1.00.

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

Insiders Place Their Bets

In related news, CEO Rohit Kapoor sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $36.18, for a total value of $1,266,300.00. Following the completion of the sale, the chief executive officer now owns 1,424,588 shares of the company’s stock, valued at $51,541,593.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ExlService news, insider Vivek Jetley sold 6,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $32.75, for a total transaction of $196,500.00. Following the completion of the sale, the insider now owns 328,657 shares of the company’s stock, valued at $10,763,516.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rohit Kapoor sold 35,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $36.18, for a total value of $1,266,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,424,588 shares in the company, valued at approximately $51,541,593.84. The disclosure for this sale can be found here. Insiders have sold 163,625 shares of company stock valued at $5,685,581 in the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Trading of ExlService

A number of hedge funds and other institutional investors have recently modified their holdings of EXLS. Norges Bank purchased a new position in ExlService during the fourth quarter worth about $79,930,000. William Blair Investment Management LLC increased its holdings in ExlService by 46.5% in the 2nd quarter. William Blair Investment Management LLC now owns 5,097,925 shares of the business services provider’s stock valued at $159,871,000 after purchasing an additional 1,618,003 shares during the last quarter. Goldman Sachs Group Inc. raised its position in ExlService by 118.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,668,368 shares of the business services provider’s stock valued at $51,469,000 after purchasing an additional 905,144 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in ExlService during the fourth quarter worth $20,936,000. Finally, Silvercrest Asset Management Group LLC purchased a new position in shares of ExlService during the first quarter worth $19,417,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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.