PNC Financial Services Group Inc. Raises Holdings in ExlService Holdings, Inc. (NASDAQ:EXLS)

PNC Financial Services Group Inc. grew its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,124 shares of the business services provider’s stock after purchasing an additional 748 shares during the period. PNC Financial Services Group Inc.’s holdings in ExlService were worth $538,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Algert Global LLC grew its position in shares of ExlService by 18.0% during the third quarter. Algert Global LLC now owns 150,460 shares of the business services provider’s stock valued at $5,740,000 after purchasing an additional 22,970 shares in the last quarter. Eagle Asset Management Inc. grew its position in ExlService by 4.3% in the third quarter. Eagle Asset Management Inc. now owns 711,995 shares of the business services provider’s stock worth $27,163,000 after acquiring an additional 29,510 shares in the last quarter. Walleye Capital LLC purchased a new position in ExlService in the third quarter worth about $1,543,000. PEAK6 Investments LLC purchased a new position in ExlService in the third quarter worth about $484,000. Finally, Smith Group Asset Management LLC grew its position in ExlService by 1.9% in the fourth quarter. Smith Group Asset Management LLC now owns 422,607 shares of the business services provider’s stock worth $18,755,000 after acquiring an additional 7,694 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EXLS. StockNews.com upgraded ExlService from a “hold” rating to a “buy” rating in a research report on Sunday, February 2nd. Stifel Nicolaus lifted their price target on ExlService from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Jefferies Financial Group lifted their price target on ExlService from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Needham & Company LLC raised their price objective on shares of ExlService from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, ExlService presently has an average rating of “Moderate Buy” and an average target price of $47.38.

Insider Activity

In related news, EVP Ajay Ayyappan sold 1,865 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $48.32, for a total value of $90,116.80. Following the completion of the transaction, the executive vice president now owns 40,986 shares of the company’s stock, valued at $1,980,443.52. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Maurizio Nicolelli sold 13,753 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $49.14, for a total transaction of $675,822.42. Following the completion of the transaction, the chief financial officer now directly owns 194,440 shares of the company’s stock, valued at $9,554,781.60. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,351 shares of company stock valued at $2,337,284. Corporate insiders own 4.16% of the company’s stock.

ExlService Stock Up 1.9 %

Shares of NASDAQ EXLS opened at $47.53 on Thursday. The firm has a 50-day simple moving average of $48.65 and a two-hundred day simple moving average of $44.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.02 and a quick ratio of 3.02. ExlService Holdings, Inc. has a 1 year low of $28.16 and a 1 year high of $52.43. The company has a market cap of $7.71 billion, a P/E ratio of 41.69, a PEG ratio of 2.11 and a beta of 1.10.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.08). ExlService had a net margin of 10.61% and a return on equity of 23.23%. The company had revenue of $481.43 million for the quarter, compared to the consensus estimate of $475.68 million. Research analysts anticipate that ExlService Holdings, Inc. will post 1.27 earnings per share 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.