Geode Capital Management LLC Sells 786,449 Shares of ExlService Holdings, Inc. $EXLS

Geode Capital Management LLC lowered its stake in ExlService Holdings, Inc. (NASDAQ:EXLS) by 18.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,411,206 shares of the business services provider’s stock after selling 786,449 shares during the period. Geode Capital Management LLC owned approximately 2.11% of ExlService worth $149,397,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new stake in ExlService during the second quarter worth about $11,372,000. Allworth Financial LP raised its position in shares of ExlService by 18,533.3% in the 2nd quarter. Allworth Financial LP now owns 43,602 shares of the business services provider’s stock valued at $1,909,000 after buying an additional 43,368 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ExlService during the 2nd quarter worth approximately $1,435,000. EFG Asset Management North America Corp. boosted its position in shares of ExlService by 11.3% during the 2nd quarter. EFG Asset Management North America Corp. now owns 106,695 shares of the business services provider’s stock worth $4,672,000 after acquiring an additional 10,824 shares in the last quarter. Finally, Huntington National Bank increased its stake in ExlService by 14.4% in the second quarter. Huntington National Bank now owns 1,953 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on EXLS. JPMorgan Chase & Co. cut their target price on ExlService from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Wall Street Zen raised ExlService from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Finally, Weiss Ratings lowered ExlService from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.50.

ExlService Stock Performance

Shares of EXLS stock opened at $38.77 on Wednesday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.77 and a beta of 0.91. The company has a current ratio of 2.91, a quick ratio of 3.15 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $41.43 and its 200-day moving average price is $43.46. ExlService Holdings, Inc. has a 12 month low of $37.30 and a 12 month high of $52.43.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings data on Tuesday, October 28th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. ExlService had a net margin of 11.91% and a return on equity of 25.60%. The business had revenue of $529.59 million during the quarter, compared to analyst estimates of $522.35 million. During the same quarter last year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. ExlService has set its FY 2025 guidance at 1.880-1.920 EPS. Equities research analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

Insider Activity at ExlService

In related news, insider Vikas Bhalla sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $43.76, for a total value of $350,080.00. Following the sale, the insider owned 127,046 shares of the company’s stock, valued at $5,559,532.96. The trade was a 5.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.