ExlService (NASDAQ:EXLS) Hits New 52-Week High – Here’s Why

ExlService Holdings, Inc. (NASDAQ:EXLS) reached a new 52-week high on Thursday. The company traded as high as $43.90 and last traded at $43.6460, with a volume of 62,351 shares trading hands. The stock had previously closed at $43.12.

Analysts Set New Price Targets

EXLS has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on ExlService from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Wall Street Zen raised ExlService from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Robert W. Baird set a $45.00 price target on ExlService and gave the company an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded ExlService from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Barrington Research increased their price objective on ExlService from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.17.

ExlService Stock Up 2.3%

The firm’s 50 day moving average is $37.64 and its two-hundred day moving average is $32.80. The firm has a market cap of $6.65 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 1.47 and a beta of 0.83. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.54.

ExlService (NASDAQ:EXLS) last issued its earnings results on Tuesday, October 27th. The business services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. ExlService had a net margin of 11.13% and a return on equity of 32.53%. The firm had revenue of $633.96 million during the quarter, compared to the consensus estimate of $615.51 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, research analysts anticipate that ExlService Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Insider Activity

In other news, insider Vikas Bhalla sold 11,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $41.22, for a total value of $453,420.00. Following the completion of the transaction, the insider owned 98,295 shares of the company’s stock, valued at $4,051,719.90. The trade was a 10.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is owned by company insiders.

Institutional Trading of ExlService

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in ExlService in the second quarter valued at about $488,370,000. Bank of America Corp DE bought a new stake in shares of ExlService in the second quarter worth about $48,189,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of ExlService by 6.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,775,966 shares of the business services provider’s stock worth $61,058,000 after purchasing an additional 103,789 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of ExlService by 54.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,397,701 shares of the business services provider’s stock worth $50,988,000 after purchasing an additional 493,434 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ExlService during the second quarter worth about $25,214,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

About ExlService

ExlService Holdings, Inc, operating under the EXL brand, is a data analytics and digital operations company that helps businesses use data, technology and artificial intelligence to improve decision-making, manage risk and enhance operational performance. Its services include data management, advanced analytics, business process solutions, automation and technology-enabled transformation.

EXL serves clients across industries including insurance, healthcare, banking and capital markets, utilities, travel and transportation, retail, media and manufacturing.