ExlService (NASDAQ:EXLS) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings lowered shares of ExlService (NASDAQ:EXLS) from a buy (b-) rating to a hold (c+) rating in a research report report published on Saturday,Weiss Ratings reports.

Separately, JPMorgan Chase & Co. decreased their price objective on shares of ExlService from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.40.

ExlService Stock Performance

NASDAQ EXLS opened at $41.47 on Friday. The stock has a market cap of $6.70 billion, a P/E ratio of 28.80, a PEG ratio of 1.89 and a beta of 0.86. The company’s 50-day simple moving average is $42.82 and its 200 day simple moving average is $44.10. ExlService has a twelve month low of $38.36 and a twelve month high of $52.43. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.24.

ExlService (NASDAQ:EXLS) last posted its earnings results on Tuesday, July 29th. The business services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $514.46 million for the quarter, compared to analysts’ expectations of $504.87 million. ExlService had a net margin of 12.00% and a return on equity of 25.38%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, research analysts forecast that ExlService will post 1.27 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Vikas Bhalla sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $43.76, for a total transaction of $350,080.00. Following the transaction, the insider directly owned 127,046 shares in the company, valued at approximately $5,559,532.96. This represents a 5.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.04% of the company’s stock.

Hedge Funds Weigh In On ExlService

A number of large investors have recently modified their holdings of EXLS. GAMMA Investing LLC lifted its position in shares of ExlService by 20.6% during the first quarter. GAMMA Investing LLC now owns 3,510 shares of the business services provider’s stock worth $166,000 after purchasing an additional 599 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in ExlService by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,112 shares of the business services provider’s stock valued at $713,000 after buying an additional 286 shares during the period. State of Alaska Department of Revenue lifted its holdings in ExlService by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 18,850 shares of the business services provider’s stock valued at $889,000 after buying an additional 505 shares during the period. Illinois Municipal Retirement Fund acquired a new position in ExlService in the first quarter valued at approximately $743,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in ExlService by 48.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 147,081 shares of the business services provider’s stock valued at $7,028,000 after buying an additional 48,056 shares during the period. 92.92% of the stock is currently 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.