ExlService Holdings, Inc. (NASDAQ:EXLS) Sees Large Increase in Short Interest

ExlService Holdings, Inc. (NASDAQ:EXLS) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 4,300,000 shares, an increase of 5.7% from the September 15th total of 4,070,000 shares. Based on an average daily trading volume, of 901,900 shares, the short-interest ratio is currently 4.8 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird boosted their price objective on ExlService from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of ExlService in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of ExlService from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Citigroup boosted their target price on shares of ExlService from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group upgraded shares of ExlService from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $42.00 in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, ExlService has an average rating of “Moderate Buy” and a consensus price target of $40.86.

ExlService Stock Performance

NASDAQ EXLS traded up $0.15 during trading hours on Thursday, reaching $40.47. The company’s stock had a trading volume of 767,495 shares, compared to its average volume of 949,106. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $36.78 and a 200 day simple moving average of $33.03. ExlService has a 52 week low of $25.17 and a 52 week high of $40.56. The stock has a market cap of $6.78 billion, a PE ratio of 37.51, a PEG ratio of 2.05 and a beta of 1.00.

ExlService (NASDAQ:EXLS) last released its quarterly earnings results 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. The business had revenue of $448.40 million during the quarter, compared to analyst estimates of $444.61 million. ExlService had a net margin of 10.45% and a return on equity of 22.92%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts predict that ExlService will post 1.28 earnings per share for the current fiscal year.

Insider Transactions at ExlService

In related news, CEO Rohit Kapoor sold 40,000 shares of ExlService 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 transaction, the chief executive officer now owns 1,509,588 shares in the company, valued at approximately $51,401,471.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Anita Mahon sold 25,670 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $35.50, for a total value of $911,285.00. Following the transaction, the executive vice president now owns 68,857 shares of the company’s stock, valued at approximately $2,444,423.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rohit Kapoor sold 40,000 shares of ExlService stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $34.05, for a total transaction of $1,362,000.00. Following the transaction, the chief executive officer now owns 1,509,588 shares in the company, 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. Insiders sold a total of 134,875 shares of company stock worth $4,716,859 in the last ninety days. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On ExlService

Several large investors have recently made changes to their positions in EXLS. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ExlService by 164.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 924 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 574 shares during the period. New Covenant Trust Company N.A. acquired a new position in ExlService during the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new stake in shares of ExlService during the 1st quarter worth about $43,000. Headlands Technologies LLC lifted its stake in shares of 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 period. Finally, GAMMA Investing LLC boosted its holdings in shares of ExlService by 28.7% in the second quarter. GAMMA Investing LLC now owns 1,755 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 391 shares in 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.