First Horizon Advisors Inc. Raises Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

First Horizon Advisors Inc. raised its position in ExlService Holdings, Inc. (NASDAQ:EXLS) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,576 shares of the business services provider’s stock after purchasing an additional 524 shares during the period. First Horizon Advisors Inc.’s holdings in ExlService were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of EXLS. Vanguard Group Inc. grew its stake in shares of ExlService by 0.9% during the first 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 in the last quarter. Mackenzie Financial Corp boosted its position in shares of ExlService by 3.2% during the 2nd quarter. Mackenzie Financial Corp now owns 7,616,982 shares of the business services provider’s stock worth $238,869,000 after acquiring an additional 233,108 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of ExlService by 46.5% in the 2nd quarter. William Blair Investment Management LLC now owns 5,097,925 shares of the business services provider’s stock valued at $159,871,000 after acquiring an additional 1,618,003 shares during the last quarter. Geneva Capital Management LLC raised its position in shares of ExlService by 1.9% during the 3rd quarter. Geneva Capital Management LLC now owns 4,694,414 shares of the business services provider’s stock worth $179,092,000 after acquiring an additional 87,592 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in 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 worth $117,936,000 after purchasing an additional 46,302 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of ExlService from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Citigroup boosted their price target on shares of ExlService from $38.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on ExlService from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC boosted their target price on ExlService from $40.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.86.

ExlService Price Performance

Shares of NASDAQ:EXLS opened at $46.21 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.02 and a current ratio of 3.02. ExlService Holdings, Inc. has a one year low of $27.95 and a one year high of $47.32. The company has a 50-day simple moving average of $40.64 and a 200-day simple moving average of $35.44. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 2.22 and a beta of 0.99.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $472.07 million during the quarter, compared to analysts’ expectations of $460.73 million. ExlService had a return on equity of 23.23% and a net margin of 10.61%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, analysts predict that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

Insider Buying and Selling

In other news, insider Vikas Bhalla sold 22,813 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $41.86, for a total transaction of $954,952.18. Following the completion of the transaction, the insider now directly owns 102,825 shares of the company’s stock, valued at approximately $4,304,254.50. This represents a 18.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jaynie M. Studenmund sold 3,645 shares of ExlService stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $44.05, for a total value of $160,562.25. Following the completion of the sale, the director now owns 14,580 shares in the company, valued at approximately $642,249. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,458 shares of company stock valued at $19,986,814 over the last three months. 4.16% of the stock is currently owned by company insiders.

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.