Needham & Company LLC Increases ExlService (NASDAQ:EXLS) Price Target to $50.00

ExlService (NASDAQ:EXLS) had its price target increased by Needham & Company LLC from $40.00 to $50.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 20.05% from the stock’s previous close.

A number of other research analysts have also recently issued reports on EXLS. Jefferies Financial Group upgraded ExlService from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $42.00 in a research note on Monday, September 9th. Robert W. Baird lifted their price objective on ExlService from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup boosted their price target on ExlService from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on ExlService from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.86.

ExlService Price Performance

Shares of EXLS stock opened at $41.65 on Thursday. The firm has a market cap of $6.72 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.19 and a beta of 1.00. ExlService has a fifty-two week low of $26.15 and a fifty-two week high of $42.27. The business’s 50 day moving average price is $37.83 and its 200-day moving average price is $33.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.02.

ExlService (NASDAQ:EXLS) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. ExlService had a return on equity of 23.23% and a net margin of 10.61%. The company had revenue of $472.07 million for the quarter, compared to analyst estimates of $460.73 million. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that ExlService will post 1.28 earnings per share for the current year.

Insider Activity at ExlService

In other ExlService news, CEO Rohit Kapoor sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $34.05, for a total transaction of $1,362,000.00. Following the completion of the sale, the chief executive officer now owns 1,509,588 shares of the company’s stock, valued at approximately $51,401,471.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ExlService news, CEO Rohit Kapoor sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $34.05, for a total transaction of $1,362,000.00. Following the completion of the sale, the chief executive officer now owns 1,509,588 shares of the company’s stock, valued at approximately $51,401,471.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vivek Jetley sold 2,015 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $35.75, for a total value of $72,036.25. Following the sale, the insider now directly owns 326,642 shares of the company’s stock, valued at $11,677,451.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,875 shares of company stock worth $4,716,859. 4.16% of the stock is owned by insiders.

Hedge Funds Weigh In On ExlService

A number of hedge funds have recently made changes to their positions in EXLS. State of Michigan Retirement System boosted its stake in shares of ExlService by 2.3% in the first quarter. State of Michigan Retirement System now owns 40,500 shares of the business services provider’s stock worth $1,288,000 after acquiring an additional 900 shares during the period. Van ECK Associates Corp boosted its stake in shares of ExlService by 36.5% in the first quarter. Van ECK Associates Corp now owns 63,391 shares of the business services provider’s stock worth $2,016,000 after acquiring an additional 16,954 shares during the period. Retirement Systems of Alabama boosted its stake in ExlService by 0.3% during the first quarter. Retirement Systems of Alabama now owns 207,102 shares of the business services provider’s stock valued at $6,586,000 after buying an additional 545 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in ExlService by 17.8% during the first quarter. BNP Paribas Financial Markets now owns 242,930 shares of the business services provider’s stock valued at $7,725,000 after buying an additional 36,699 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in ExlService by 5.2% during the first quarter. Janney Montgomery Scott LLC now owns 13,863 shares of the business services provider’s stock valued at $441,000 after buying an additional 682 shares during the last quarter. Institutional investors 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.