ExlService (EXLS) Upgraded to “Buy” at Zacks Investment Research

ExlService (NASDAQ:EXLS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $66.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.20% from the company’s previous close.

According to Zacks, “ExlService Holdings, Inc. is a leading operations management and analytics company that designs and enables agile, customer-centric operating models to help clients improve their revenue growth and profitability. ExlService Holdings delivery model provides market-leading business outcomes using EXL’s proprietary Business EXLerator Framework, cutting-edge analytics, digital transformation and domain expertise. At EXL, look deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. “

A number of other research firms have also commented on EXLS. William Blair reaffirmed an “outperform” rating on shares of ExlService in a report on Tuesday, February 27th. Barrington Research cut their price target on ExlService from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. ValuEngine raised ExlService from a “hold” rating to a “buy” rating in a report on Thursday. BidaskClub lowered ExlService from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $71.00 price target on shares of ExlService in a report on Monday, February 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.50.

Shares of ExlService (NASDAQ:EXLS) traded up $0.39 during midday trading on Monday, reaching $59.35. The company’s stock had a trading volume of 114,586 shares, compared to its average volume of 132,477. ExlService has a 1-year low of $44.81 and a 1-year high of $64.34. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2,016.33, a price-to-earnings ratio of 42.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. ExlService had a return on equity of 15.09% and a net margin of 6.41%. The firm had revenue of $197.88 million during the quarter, compared to analyst estimates of $194.86 million. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. equities research analysts anticipate that ExlService will post 2.26 earnings per share for the current fiscal year.

In related news, EVP Nalin Kumar Miglani sold 1,104 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $61.48, for a total value of $67,873.92. Following the sale, the executive vice president now owns 6,083 shares in the company, valued at $373,982.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vishal Chhibbar sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $63.90, for a total value of $191,700.00. Following the sale, the chief financial officer now owns 3,000 shares in the company, valued at approximately $191,700. The disclosure for this sale can be found here. Insiders sold 17,014 shares of company stock worth $1,026,173 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LS Investment Advisors LLC raised its position in ExlService by 110.6% during the fourth quarter. LS Investment Advisors LLC now owns 2,414 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 1,268 shares in the last quarter. We Are One Seven LLC purchased a new stake in ExlService during the fourth quarter valued at about $191,000. Allianz Asset Management GmbH purchased a new stake in ExlService during the fourth quarter valued at about $204,000. Dean Capital Investments Management LLC purchased a new stake in ExlService during the fourth quarter valued at about $206,000. Finally, Polen Capital Management LLC purchased a new stake in ExlService during the fourth quarter valued at about $221,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

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About ExlService

ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.

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