M&T Bank Corp Cuts Stock Holdings in ExlService Holdings, Inc. (NASDAQ:EXLS)

M&T Bank Corp trimmed its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,118 shares of the business services provider’s stock after selling 239 shares during the quarter. M&T Bank Corp’s holdings in ExlService were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXLS. Handelsbanken Fonder AB boosted its holdings in shares of ExlService by 313.9% in the 4th quarter. Handelsbanken Fonder AB now owns 2,194,690 shares of the business services provider’s stock worth $97,400,000 after buying an additional 1,664,400 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of ExlService in the 3rd quarter worth about $17,198,000. Proficio Capital Partners LLC purchased a new position in shares of ExlService in the 4th quarter worth about $8,682,000. Barclays PLC boosted its holdings in shares of ExlService by 62.6% in the 3rd quarter. Barclays PLC now owns 446,605 shares of the business services provider’s stock worth $17,040,000 after buying an additional 171,912 shares during the last quarter. Finally, Castleark Management LLC purchased a new position in shares of ExlService in the 3rd quarter worth about $6,045,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

ExlService Trading Up 1.7 %

Shares of EXLS opened at $46.16 on Friday. The business’s 50-day moving average price is $48.51 and its 200-day moving average price is $44.02. ExlService Holdings, Inc. has a twelve month low of $28.16 and a twelve month high of $52.43. The stock has a market cap of $7.49 billion, a PE ratio of 40.49, a P/E/G ratio of 2.11 and a beta of 1.10. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.37.

ExlService (NASDAQ:EXLS) last announced its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). ExlService had a net margin of 10.61% and a return on equity of 23.23%. The company had revenue of $481.43 million for the quarter, compared to the consensus estimate of $475.68 million. On average, equities analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EXLS shares. StockNews.com raised shares of ExlService from a “hold” rating to a “buy” rating in a report on Sunday, February 2nd. Needham & Company LLC upped their price objective on shares of ExlService from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus upped their price objective on shares of ExlService from $48.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group upped their price objective on shares of ExlService from $47.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.38.

Insider Activity

In related news, EVP Ajay Ayyappan sold 16,186 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $51.50, for a total value of $833,579.00. Following the transaction, the executive vice president now directly owns 40,986 shares in the company, valued at approximately $2,110,779. This represents a 28.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anita Mahon sold 10,558 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $45.92, for a total transaction of $484,823.36. Following the completion of the transaction, the executive vice president now owns 94,443 shares in the company, valued at approximately $4,336,822.56. This trade represents a 10.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,351 shares of company stock worth $2,337,284 over the last ninety days. Company insiders own 4.16% 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.