Short Interest in ExlService Holdings, Inc. (NASDAQ:EXLS) Increases By 18.5%

ExlService Holdings, Inc. (NASDAQ:EXLS) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 8,764,243 shares, an increase of 18.5% from the February 12th total of 7,397,342 shares. Approximately 5.8% of the shares of the stock are sold short. Based on an average daily volume of 2,473,494 shares, the days-to-cover ratio is presently 3.5 days. Based on an average daily volume of 2,473,494 shares, the days-to-cover ratio is presently 3.5 days. Approximately 5.8% of the shares of the stock are sold short.

ExlService Trading Up 3.2%

Shares of EXLS stock opened at $30.83 on Wednesday. ExlService has a twelve month low of $26.94 and a twelve month high of $48.79. The stock’s fifty day simple moving average is $34.93 and its 200 day simple moving average is $39.24. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32. The firm has a market capitalization 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.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP Ajay Ayyappan sold 8,114 shares of ExlService 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 in the company, valued at approximately $2,275,992.95. This trade represents a 13.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 11,586 shares of company stock valued at $449,725. Company insiders own 4.04% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EXLS. Mather Group LLC. bought a new stake in ExlService during the 3rd quarter worth approximately $25,000. CENTRAL TRUST Co raised its stake in shares of ExlService by 2,428.0% during the third quarter. CENTRAL TRUST Co now owns 632 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 607 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of 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 during the period. True Wealth Design LLC lifted its holdings in shares of 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 during the period. Finally, Private Trust Co. NA grew its stake in shares of ExlService by 56.2% in 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 during the last quarter. Institutional investors own 92.92% 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.