ExlService (NASDAQ:EXLS) to Buyback $125.00 million in Shares

ExlService (NASDAQ:EXLS) announced that its board has initiated a stock repurchase program on Tuesday, March 17th, RTT News reports. The company plans to buyback $125.00 million in shares. This buyback authorization allows the business services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

ExlService Price Performance

EXLS opened at $30.83 on Wednesday. ExlService has a 52-week low of $26.94 and a 52-week high of $48.79. The company has a 50 day moving average of $34.93 and a two-hundred day moving average of $39.24. The company has a market cap of $4.82 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.34 and a beta of 0.91. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EXLS. Weiss Ratings reiterated a “hold (c+)” rating on shares of ExlService in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Robert W. Baird set a $35.00 price objective on shares of ExlService in a report on Wednesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective (down from $55.00) on shares of ExlService in a research report on Wednesday, February 25th. Finally, TD Cowen dropped their target price on shares of ExlService from $51.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.60.

Insider Buying and Selling

In other ExlService news, EVP Ajay Ayyappan sold 8,114 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $42.53, for a total transaction of $345,088.42. Following the transaction, the executive vice president owned 53,515 shares in the company, valued at $2,275,992.95. The trade was a 13.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 11,586 shares of company stock valued at $449,725 over the last 90 days. Company insiders own 4.04% of the company’s stock.

About ExlService

ExlService Holdings, Inc (NASDAQ: EXLS) is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.