Bessemer Group Inc. Reduces Holdings in ExlService Holdings, Inc. (NASDAQ:EXLS)

Bessemer Group Inc. decreased its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 648,851 shares of the business services provider’s stock after selling 144,284 shares during the period. Bessemer Group Inc.’s holdings in ExlService were worth $30,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc purchased a new stake in ExlService in the fourth quarter worth about $49,000. Johnson Financial Group Inc. bought a new position in shares of ExlService in the 4th quarter worth approximately $85,000. Fifth Third Bancorp lifted its stake in shares of ExlService by 35.2% in the 1st quarter. Fifth Third Bancorp now owns 2,131 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 555 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of ExlService during the first quarter valued at approximately $102,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of ExlService during the fourth quarter valued at approximately $99,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

ExlService Trading Down 2.9%

ExlService stock opened at $43.21 on Thursday. ExlService Holdings, Inc. has a 12 month low of $30.05 and a 12 month high of $52.43. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83. The business’s fifty day simple moving average is $45.96 and its two-hundred day simple moving average is $46.68. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 0.30.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings results on Tuesday, April 29th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $501.02 million during the quarter, compared to analyst estimates of $489.66 million. ExlService had a return on equity of 25.11% and a net margin of 11.36%. ExlService’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 EPS. As a group, equities analysts predict that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

EXLS has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of ExlService in a report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of ExlService from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of ExlService from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wall Street Zen raised shares of ExlService from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.50.

Insiders Place Their Bets

In other news, Director Jaynie M. Studenmund sold 14,580 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $47.53, for a total transaction of $692,987.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.11, for a total value of $1,152,750.00. Following the sale, the insider now directly owns 135,046 shares in the company, valued at $6,226,971.06. This trade represents a 15.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.04% of the company’s stock.

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.