ExlService (NASDAQ:EXLS) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of ExlService (NASDAQ:EXLS) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “ExlService Holdings, Inc. is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability. ExlService Holdings delivery model provides market-leading business outcomes using EXL’s proprietary Business EXLerator Framework, cutting-edge analytics, digital transformation and domain expertise. At EXL, look deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. “

EXLS has been the topic of a number of other research reports. BidaskClub lowered ExlService from a hold rating to a sell rating in a report on Wednesday, October 23rd. ValuEngine lowered shares of ExlService from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of ExlService from $75.00 to $74.00 and set a neutral rating for the company in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $70.83.

NASDAQ EXLS opened at $69.80 on Wednesday. The company has a market cap of $2.38 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.70 and a beta of 1.04. The stock’s 50 day simple moving average is $68.38 and its 200-day simple moving average is $66.09. ExlService has a 1-year low of $44.29 and a 1-year high of $70.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.69 and a quick ratio of 2.69.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. ExlService had a return on equity of 13.56% and a net margin of 5.17%. The firm had revenue of $251.40 million for the quarter, compared to analyst estimates of $256.60 million. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that ExlService will post 2.36 EPS for the current fiscal year.

In other news, CEO Rohit Kapoor sold 3,565 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $69.95, for a total value of $249,371.75. Following the completion of the sale, the chief executive officer now directly owns 228,445 shares in the company, valued at $15,979,727.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Pavan Bagai sold 10,346 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.52, for a total value of $708,907.92. Following the completion of the sale, the chief operating officer now owns 45,416 shares of the company’s stock, valued at $3,111,904.32. The disclosure for this sale can be found here. Insiders sold a total of 54,652 shares of company stock worth $3,781,637 over the last three months. Corporate insiders own 3.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in ExlService by 99.5% in the 2nd quarter. Royal Bank of Canada now owns 595,944 shares of the business services provider’s stock valued at $39,410,000 after buying an additional 297,151 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of ExlService during the 2nd quarter valued at about $16,913,000. Millennium Management LLC boosted its position in shares of ExlService by 865.3% during the 3rd quarter. Millennium Management LLC now owns 179,089 shares of the business services provider’s stock valued at $11,991,000 after acquiring an additional 202,489 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of ExlService in the second quarter valued at about $7,044,000. Finally, GW&K Investment Management LLC grew its holdings in shares of ExlService by 13.2% in the third quarter. GW&K Investment Management LLC now owns 457,497 shares of the business services provider’s stock valued at $30,634,000 after purchasing an additional 53,288 shares during the period. 92.57% of the stock is currently owned by institutional investors.

ExlService Company Profile

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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