Canada Pension Plan Investment Board Buys 66,200 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Canada Pension Plan Investment Board boosted its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 46.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,700 shares of the business services provider’s stock after buying an additional 66,200 shares during the period. Canada Pension Plan Investment Board owned approximately 0.12% of ExlService worth $6,513,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of ExlService by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 17,176,353 shares of the business services provider’s stock worth $546,208,000 after purchasing an additional 160,723 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of ExlService by 46.5% in the second quarter. William Blair Investment Management LLC now owns 5,097,925 shares of the business services provider’s stock worth $159,871,000 after purchasing an additional 1,618,003 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of ExlService by 8.7% during the first quarter. Geneva Capital Management LLC now owns 4,585,428 shares of the business services provider’s stock valued at $145,817,000 after purchasing an additional 365,776 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of ExlService by 1.2% during the second quarter. Boston Trust Walden Corp now owns 3,760,723 shares of the business services provider’s stock valued at $117,936,000 after buying an additional 46,302 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of ExlService by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,468,039 shares of the business services provider’s stock valued at $108,756,000 after buying an additional 88,759 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXLS. Citigroup upped their target price on shares of ExlService from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. raised their target price on shares of ExlService from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Jefferies Financial Group upgraded shares of ExlService from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $42.00 in a research note on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of ExlService in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Insider Activity

In other ExlService news, insider Vivek Jetley sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $32.75, for a total transaction of $196,500.00. Following the sale, the insider now owns 328,657 shares in the company, valued at approximately $10,763,516.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Vivek Jetley sold 6,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $32.75, for a total value of $196,500.00. Following the completion of the sale, the insider now directly owns 328,657 shares of the company’s stock, valued at $10,763,516.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 approximately $51,401,471.40. The disclosure for this sale can be found here. Insiders have sold a total of 163,625 shares of company stock valued at $5,685,581 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.

ExlService Stock Up 0.1 %

EXLS opened at $36.97 on Wednesday. The firm’s 50 day simple moving average is $35.33 and its two-hundred day simple moving average is $32.19. The company has a market capitalization of $6.19 billion, a PE ratio of 34.23, a PEG ratio of 1.89 and a beta of 1.00. ExlService Holdings, Inc. has a 1-year low of $25.17 and a 1-year high of $37.15. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.30.

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