ExlService (EXLS) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of ExlService (NASDAQ:EXLS) from a hold rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

Several other research firms also recently commented on EXLS. Cantor Fitzgerald reissued a buy rating and issued a $71.00 target price on shares of ExlService in a report on Sunday, April 28th. Robert W. Baird downgraded shares of ExlService from an outperform rating to a neutral rating and lowered their target price for the stock from $66.00 to $63.00 in a report on Friday, March 1st. Citigroup boosted their target price on shares of ExlService from $56.00 to $62.00 and gave the stock a neutral rating in a report on Friday, March 1st. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a report on Tuesday, April 9th. Finally, ValuEngine downgraded shares of ExlService from a buy rating to a hold rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $64.33.

Shares of NASDAQ:EXLS opened at $60.31 on Tuesday. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 0.48. ExlService has a 1-year low of $44.29 and a 1-year high of $67.06. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 2.46 and a beta of 1.12.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. ExlService had a net margin of 5.27% and a return on equity of 13.63%. The business had revenue of $239.57 million for the quarter, compared to the consensus estimate of $238.88 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts predict that ExlService will post 2.32 EPS for the current fiscal year.

In related news, EVP Nalin Kumar Miglani sold 2,030 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $62.29, for a total transaction of $126,448.70. Following the sale, the executive vice president now owns 992 shares of the company’s stock, valued at $61,791.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Pavan Bagai sold 5,000 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $61.86, for a total transaction of $309,300.00. Following the sale, the chief operating officer now directly owns 45,861 shares in the company, valued at approximately $2,836,961.46. The disclosure for this sale can be found here. Insiders sold 38,238 shares of company stock worth $2,322,280 in the last three months. Insiders own 4.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in ExlService by 0.3% during the fourth quarter. BlackRock Inc. now owns 4,904,881 shares of the business services provider’s stock valued at $258,094,000 after purchasing an additional 13,406 shares in the last quarter. Vanguard Group Inc. raised its stake in ExlService by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,381,703 shares of the business services provider’s stock valued at $223,869,000 after purchasing an additional 87,854 shares in the last quarter. Mackenzie Financial Corp raised its stake in ExlService by 20.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,723,020 shares of the business services provider’s stock valued at $90,665,000 after purchasing an additional 287,215 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ExlService by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,204,762 shares of the business services provider’s stock valued at $63,394,000 after purchasing an additional 10,567 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in ExlService by 10.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,144,485 shares of the business services provider’s stock valued at $60,223,000 after purchasing an additional 107,832 shares in the last quarter. 93.77% of the stock is currently owned by institutional investors.

About ExlService

ExlService Holdings, Inc provides operations management and analytics services in the United States, the United Kingdom, and internationally. The company offers business process management (BPM) services to the insurance industry in the areas of claims processing, subrogation, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business processing, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer services.

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Analyst Recommendations for ExlService (NASDAQ:EXLS)

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