Needham & Company LLC Raises ExlService (NASDAQ:EXLS) Price Target to $50.00

ExlService (NASDAQ:EXLS) had its price objective hoisted by Needham & Company LLC from $40.00 to $50.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price points to a potential upside of 20.05% from the company’s previous close.

Several other analysts have also commented on EXLS. Robert W. Baird raised their price objective on shares of ExlService from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of ExlService from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Citigroup boosted their price objective on shares of ExlService from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group upgraded shares of ExlService from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $42.00 in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, ExlService has a consensus rating of “Moderate Buy” and an average price target of $42.86.

ExlService Stock Performance

Shares of EXLS opened at $41.65 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.45. ExlService has a one year low of $25.40 and a one year high of $42.15. The company has a 50-day simple moving average of $37.59 and a two-hundred day simple moving average of $33.61. The firm has a market capitalization of $6.98 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.00.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. ExlService had a net margin of 10.45% and a return on equity of 22.92%. The business had revenue of $448.40 million during the quarter, compared to analyst estimates of $444.61 million. During the same period last year, the business posted $0.31 earnings per share. ExlService’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that ExlService will post 1.28 EPS for the current fiscal year.

Insider Transactions at ExlService

In other ExlService news, CEO Rohit Kapoor sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $34.05, for a total transaction of $1,362,000.00. Following the completion of the sale, the chief executive officer now owns 1,509,588 shares of the company’s stock, valued at approximately $51,401,471.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Rohit Kapoor sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $34.05, for a total value of $1,362,000.00. Following the completion of the transaction, the chief executive officer now owns 1,509,588 shares of the company’s stock, valued at $51,401,471.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ajay Ayyappan sold 21,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $34.38, for a total value of $721,980.00. Following the completion of the transaction, the executive vice president now directly owns 29,909 shares of the company’s stock, valued at approximately $1,028,271.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,875 shares of company stock worth $4,716,859 in the last three months. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On ExlService

A number of hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. boosted its stake in ExlService by 7.8% during the third quarter. QRG Capital Management Inc. now owns 14,578 shares of the business services provider’s stock valued at $556,000 after buying an additional 1,053 shares during the last quarter. Van ECK Associates Corp boosted its stake in ExlService by 40.0% during the third quarter. Van ECK Associates Corp now owns 108,295 shares of the business services provider’s stock valued at $4,254,000 after buying an additional 30,945 shares during the last quarter. Janney Montgomery Scott LLC raised its position in ExlService by 46.1% during the third quarter. Janney Montgomery Scott LLC now owns 20,660 shares of the business services provider’s stock valued at $788,000 after purchasing an additional 6,519 shares during the period. Oak Ridge Investments LLC raised its position in ExlService by 54.3% during the third quarter. Oak Ridge Investments LLC now owns 321,310 shares of the business services provider’s stock valued at $12,258,000 after purchasing an additional 113,084 shares during the period. Finally, US Bancorp DE raised its position in ExlService by 17.2% during the third quarter. US Bancorp DE now owns 19,163 shares of the business services provider’s stock valued at $731,000 after purchasing an additional 2,818 shares during the period. Institutional investors own 92.92% of the company’s stock.

About ExlService

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.