ExlService Holdings, Inc. (NASDAQ:EXLS) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $61.98 and last traded at $62.12, with a volume of 114,827 shares changing hands. The stock had previously closed at $60.58.
The business services provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. The firm had revenue of $192.30 million during the quarter, compared to analysts’ expectations of $191.20 million. ExlService Holdings had a net margin of 9.53% and a return on equity of 14.34%. ExlService Holdings’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS.
EXLS has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of ExlService Holdings from a “hold” rating to a “strong-buy” rating and set a $64.00 price target for the company in a research note on Tuesday, July 4th. Citigroup Inc. cut shares of ExlService Holdings from a “buy” rating to a “neutral” rating and increased their price target for the stock from $54.00 to $59.00 in a research note on Tuesday, July 18th. Robert W. Baird reiterated a “buy” rating and set a $62.00 price target on shares of ExlService Holdings in a research note on Friday, September 8th. Cowen and Company restated a “buy” rating on shares of ExlService Holdings in a research note on Friday, September 1st. Finally, Barrington Research set a $65.00 target price on shares of ExlService Holdings and gave the stock an “outperform” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. ExlService Holdings presently has a consensus rating of “Hold” and an average target price of $60.75.
In other news, EVP Villa Rembert De sold 900 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $56.01, for a total value of $50,409.00. Following the completion of the transaction, the executive vice president now owns 10,697 shares in the company, valued at approximately $599,138.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vishal Chhibbar sold 3,000 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $60.30, for a total transaction of $180,900.00. The disclosure for this sale can be found here. Insiders sold a total of 345,249 shares of company stock valued at $20,005,339 in the last 90 days. Company insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP purchased a new position in shares of ExlService Holdings in the 3rd quarter valued at about $1,516,000. Nationwide Fund Advisors increased its holdings in shares of ExlService Holdings by 4.0% in the 3rd quarter. Nationwide Fund Advisors now owns 235,233 shares of the business services provider’s stock valued at $13,719,000 after purchasing an additional 8,977 shares in the last quarter. 1st Global Advisors Inc. increased its holdings in shares of ExlService Holdings by 1.1% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,138 shares of the business services provider’s stock valued at $508,000 after purchasing an additional 100 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of ExlService Holdings in the 2nd quarter valued at about $405,000. Finally, State Street Corp increased its holdings in shares of ExlService Holdings by 4.7% in the 2nd quarter. State Street Corp now owns 806,778 shares of the business services provider’s stock valued at $44,841,000 after purchasing an additional 36,362 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 31.76 and a beta of 1.27. The stock’s 50-day moving average price is $58.39 and its 200 day moving average price is $54.40.
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About ExlService Holdings
ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.
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