ExlService Holdings, Inc. (NASDAQ:EXLS) Sees Significant Increase in Short Interest

ExlService Holdings, Inc. (NASDAQ:EXLSGet Free Report) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 4,200,000 shares, a growth of 8.2% from the February 29th total of 3,880,000 shares. Based on an average daily volume of 851,500 shares, the days-to-cover ratio is presently 4.9 days.

Wall Street Analyst Weigh In

EXLS has been the subject of several research analyst reports. StockNews.com downgraded ExlService from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. TD Cowen increased their price target on shares of ExlService from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of ExlService in a research report on Friday, March 1st. Citigroup upgraded ExlService from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $36.00 in a research report on Wednesday, January 17th. Finally, Wedbush reiterated a “neutral” rating and issued a $34.00 price target on shares of ExlService in a report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, ExlService presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Get Our Latest Analysis on ExlService

ExlService Stock Down 1.1 %

EXLS traded down $0.35 during trading hours on Wednesday, hitting $30.53. 57,265 shares of the company’s stock were exchanged, compared to its average volume of 869,115. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. ExlService has a 1-year low of $25.17 and a 1-year high of $35.94. The stock’s 50-day moving average is $31.15 and its two-hundred day moving average is $29.66. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 1.64 and a beta of 0.97.

ExlService (NASDAQ:EXLSGet Free Report) last issued its earnings results on Thursday, February 29th. The business services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $414.06 million for the quarter, compared to analyst estimates of $408.56 million. ExlService had a return on equity of 22.83% and a net margin of 11.32%. Sell-side analysts predict that ExlService will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at ExlService

In other news, EVP Vikas Bhalla sold 23,760 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $31.51, for a total transaction of $748,677.60. Following the completion of the sale, the executive vice president now directly owns 127,046 shares of the company’s stock, valued at approximately $4,003,219.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Vikas Bhalla sold 23,760 shares of ExlService stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $31.51, for a total value of $748,677.60. Following the transaction, the executive vice president now directly owns 127,046 shares in the company, valued at $4,003,219.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay Ayyappan sold 9,259 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $31.59, for a total transaction of $292,491.81. Following the transaction, the executive vice president now owns 50,693 shares in the company, valued at approximately $1,601,391.87. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EXLS. Vanguard Group Inc. raised its position in ExlService by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 17,015,630 shares of the business services provider’s stock valued at $524,932,000 after purchasing an additional 180,928 shares during the last quarter. FMR LLC increased its position in ExlService by 407.4% in the 3rd quarter. FMR LLC now owns 9,605,650 shares of the business services provider’s stock valued at $269,342,000 after buying an additional 7,712,359 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of ExlService by 367.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,639,488 shares of the business services provider’s stock worth $242,251,000 after purchasing an additional 6,790,373 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of ExlService by 4.5% in the fourth quarter. Mackenzie Financial Corp now owns 6,813,597 shares of the business services provider’s stock valued at $210,199,000 after buying an additional 291,734 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in ExlService by 1.4% during the first quarter. BlackRock Inc. now owns 5,054,281 shares of the business services provider’s stock worth $724,125,000 after buying an additional 67,935 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

About ExlService

(Get Free Report)

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.

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