Dalton Investments Inc. Sells 25,500 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Dalton Investments Inc. lessened its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS) by 50.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,641 shares of the business services provider’s stock after selling 25,500 shares during the quarter. ExlService accounts for approximately 0.4% of Dalton Investments Inc.’s investment portfolio, making the stock its 22nd biggest position. Dalton Investments Inc.’s holdings in ExlService were worth $773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its holdings in ExlService by 46.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 207,700 shares of the business services provider’s stock valued at $6,513,000 after purchasing an additional 66,200 shares during the period. MQS Management LLC acquired a new stake in shares of ExlService in the second quarter valued at approximately $235,000. Seven Eight Capital LP bought a new stake in shares of ExlService in the second quarter valued at approximately $363,000. Hsbc Holdings PLC grew its position in ExlService by 96.9% during the second quarter. Hsbc Holdings PLC now owns 136,606 shares of the business services provider’s stock worth $4,304,000 after buying an additional 67,243 shares in the last quarter. Finally, Blair William & Co. IL grew its position in ExlService by 64.5% during the second quarter. Blair William & Co. IL now owns 19,689 shares of the business services provider’s stock worth $617,000 after buying an additional 7,718 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EXLS. Jefferies Financial Group upgraded 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 report on Monday, September 9th. Citigroup upped their price objective on shares of ExlService from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of ExlService in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, ExlService currently has an average rating of “Moderate Buy” and an average target price of $39.67.

Insider Activity

In related news, EVP Narasimha Kini sold 8,435 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $33.00, for a total transaction of $278,355.00. Following the sale, the executive vice president now owns 179,038 shares in the company, valued at approximately $5,908,254. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ExlService news, EVP Narasimha Kini sold 8,435 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $33.00, for a total value of $278,355.00. Following the completion of the transaction, the executive vice president now directly owns 179,038 shares in the company, valued at $5,908,254. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rohit Kapoor sold 35,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $36.18, for a total value of $1,266,300.00. Following the sale, the chief executive officer now owns 1,424,588 shares in the company, valued at $51,541,593.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,625 shares of company stock worth $5,685,581. Insiders own 3.75% of the company’s stock.

ExlService Stock Down 0.4 %

Shares of NASDAQ EXLS opened at $36.52 on Friday. The stock has a 50-day moving average price of $35.21 and a two-hundred day moving average price of $32.12. ExlService Holdings, Inc. has a 12 month low of $25.17 and a 12 month high of $37.00. 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 company has a market cap of $6.12 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 1.89 and a beta of 1.00.

ExlService (NASDAQ:EXLS) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. ExlService had a net margin of 10.45% and a return on equity of 22.92%. The business had revenue of $448.40 million during the quarter, compared to analysts’ expectations of $444.61 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts forecast that ExlService Holdings, Inc. will post 1.28 earnings per share for the current fiscal year.

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.