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

ExlService (NASDAQ:EXLS) had its target price lifted by investment analysts at Needham & Company LLC from $40.00 to $50.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 20.05% from the stock’s current price.

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

ExlService Stock Up 6.7 %

Shares of NASDAQ:EXLS opened at $41.65 on Thursday. ExlService has a 52-week low of $25.40 and a 52-week high of $42.15. The stock has a market cap of $6.98 billion, a P/E ratio of 38.56, a price-to-earnings-growth ratio of 2.07 and a beta of 1.00. The business’s 50 day moving average is $37.59 and its 200 day moving average is $33.61. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.30.

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

Insider Transactions at ExlService

In other news, CEO Rohit Kapoor sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $34.05, for a total value 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 $51,401,471.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Anita Mahon sold 25,670 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $35.50, for a total value of $911,285.00. Following the completion of the transaction, the executive vice president now owns 68,857 shares in the company, valued at $2,444,423.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rohit Kapoor sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $34.05, for a total value of $1,362,000.00. Following the completion of the transaction, the chief executive officer now owns 1,509,588 shares of the company’s stock, valued at $51,401,471.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,875 shares of company stock valued at $4,716,859 in the last quarter. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ExlService

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its stake in ExlService by 164.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 924 shares of the business services provider’s stock worth $29,000 after acquiring an additional 574 shares during the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of ExlService during the 1st quarter valued at about $30,000. Fidelis Capital Partners LLC purchased a new position in shares of ExlService during the 1st quarter valued at about $43,000. Headlands Technologies LLC raised its stake in shares of ExlService by 269.0% during the 1st quarter. Headlands Technologies LLC now owns 1,594 shares of the business services provider’s stock valued at $51,000 after buying an additional 1,162 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of ExlService by 29.7% during the 3rd quarter. UMB Bank n.a. now owns 1,638 shares of the business services provider’s stock valued at $62,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

ExlService Company Profile

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.