Needham & Company LLC Forecasts Strong Price Appreciation for ExlService (NASDAQ:EXLS) Stock

ExlService (NASDAQ:EXLS) had its target price increased by investment analysts at Needham & Company LLC from $40.00 to $50.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 20.05% from the stock’s previous close.

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

ExlService Trading Down 0.0 %

Shares of NASDAQ EXLS opened at $41.65 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.02. The business’s 50 day moving average price is $37.83 and its 200-day moving average price is $33.73. ExlService has a fifty-two week low of $26.15 and a fifty-two week high of $42.27. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.19 and a beta of 1.00.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. ExlService had a return on equity of 23.23% and a net margin of 10.61%. The firm had revenue of $472.07 million for the quarter, compared to the consensus estimate of $460.73 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts expect that ExlService will post 1.28 earnings per share for the current year.

Insider Buying and Selling at ExlService

In other news, EVP Ajay Ayyappan sold 21,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 29,909 shares of the company’s stock, valued at $1,028,271.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ajay Ayyappan sold 21,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 29,909 shares of the company’s stock, valued at $1,028,271.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rohit Kapoor sold 40,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,509,588 shares of the company’s stock, valued at $51,401,471.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,875 shares of company stock valued at $4,716,859. 4.16% of the stock is currently owned by corporate insiders.

Institutional Trading of ExlService

A number of institutional investors have recently made changes to their positions in EXLS. Whittier Trust Co. of Nevada Inc. raised its stake in ExlService by 164.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 924 shares of the business services provider’s stock worth $29,000 after acquiring an additional 574 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in ExlService in the 1st quarter worth $30,000. Fidelis Capital Partners LLC purchased a new position in ExlService in the 1st quarter worth $43,000. Headlands Technologies LLC raised its stake in ExlService by 269.0% in the 1st quarter. Headlands Technologies LLC now owns 1,594 shares of the business services provider’s stock worth $51,000 after acquiring an additional 1,162 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in ExlService by 28.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,755 shares of the business services provider’s stock worth $55,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds 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.