ExlService Holdings, Inc. $EXLS Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,440 shares of the business services provider’s stock after buying an additional 59,657 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.18% of ExlService worth $11,722,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its position in ExlService by 277.7% in the first quarter. Empowered Funds LLC now owns 17,384 shares of the business services provider’s stock valued at $821,000 after acquiring an additional 12,781 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of ExlService by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 497,474 shares of the business services provider’s stock valued at $23,486,000 after purchasing an additional 19,769 shares during the period. Jane Street Group LLC purchased a new position in ExlService during the 1st quarter worth approximately $10,084,000. Hsbc Holdings PLC increased its position in ExlService by 8.8% during the second quarter. Hsbc Holdings PLC now owns 43,568 shares of the business services provider’s stock worth $1,908,000 after buying an additional 3,522 shares during the period. Finally, Norges Bank acquired a new position in ExlService during the second quarter worth approximately $44,020,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EXLS. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective (down from $55.00) on shares of ExlService in a report on Wednesday, February 25th. Stifel Nicolaus cut their target price on shares of ExlService from $54.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ExlService in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, TD Cowen lowered their price objective on shares of ExlService from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, ExlService has a consensus rating of “Moderate Buy” and an average target price of $43.60.

ExlService Price Performance

ExlService stock opened at $30.94 on Monday. ExlService Holdings, Inc. has a twelve month low of $26.94 and a twelve month high of $48.79. The stock has a 50 day moving average of $31.83 and a two-hundred day moving average of $38.04. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.39 and a beta of 0.89.

ExlService declared that its Board of Directors has approved a share buyback program on Tuesday, March 17th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the business services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at ExlService

In related news, EVP Ajay Ayyappan sold 1,197 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $29.79, for a total transaction of $35,658.63. Following the completion of the sale, the executive vice president directly owned 53,901 shares of the company’s stock, valued at $1,605,710.79. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 11,586 shares of company stock worth $449,725 in the last three months. 4.04% of the stock is owned by corporate insiders.

ExlService Profile

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.