ExlService Holdings, Inc. (NASDAQ:EXLS) Short Interest Update

ExlService Holdings, Inc. (NASDAQ:EXLS) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 10,264,236 shares, a growth of 30.2% from the March 15th total of 7,883,395 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average daily trading volume, of 2,058,725 shares, the days-to-cover ratio is presently 5.0 days.

Insider Buying and Selling

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

Institutional Investors Weigh In On ExlService

Hedge funds have recently made changes to their positions in the business. Mather Group LLC. acquired a new stake in shares of ExlService during the third quarter worth about $25,000. CENTRAL TRUST Co raised its holdings in ExlService by 2,428.0% during the third quarter. CENTRAL TRUST Co now owns 632 shares of the business services provider’s stock worth $28,000 after purchasing an additional 607 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in ExlService by 285.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 678 shares of the business services provider’s stock worth $29,000 after purchasing an additional 502 shares in the last quarter. True Wealth Design LLC raised its holdings in ExlService by 57.2% during the fourth quarter. True Wealth Design LLC now owns 706 shares of the business services provider’s stock worth $30,000 after purchasing an additional 257 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in ExlService by 56.2% during the fourth quarter. Private Trust Co. NA now owns 717 shares of the business services provider’s stock worth $30,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

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

ExlService Stock Performance

NASDAQ EXLS opened at $31.26 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.56 and a quick ratio of 2.56. ExlService has a 1 year low of $26.94 and a 1 year high of $48.79. The company has a market capitalization of $4.89 billion, a PE ratio of 20.30, a P/E/G ratio of 1.38 and a beta of 0.89. The company has a fifty day moving average of $30.59 and a two-hundred day moving average of $37.36.

ExlService announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 17th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the business services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.