ExlService (NASDAQ:EXLS) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of ExlService (NASDAQ:EXLS) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

Several other research firms also recently issued reports on EXLS. BidaskClub downgraded shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, April 30th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $71.00 price target on shares of ExlService in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $67.20.

ExlService stock traded down $0.52 during mid-day trading on Wednesday, reaching $64.55. The company had a trading volume of 68,930 shares, compared to its average volume of 113,529. ExlService has a fifty-two week low of $44.29 and a fifty-two week high of $67.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.40 and a current ratio of 3.40. The firm has a market cap of $2.28 billion, a P/E ratio of 27.94, a P/E/G ratio of 2.63 and a beta of 1.08. The company has a fifty day moving average of $62.93.

ExlService (NASDAQ:EXLS) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.17. The firm had revenue of $239.57 million during the quarter, compared to the consensus estimate of $238.88 million. ExlService had a net margin of 5.27% and a return on equity of 13.63%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Sell-side analysts predict that ExlService will post 2.31 earnings per share for the current fiscal year.

In other news, EVP Vikas Bhalla sold 10,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $66.35, for a total transaction of $663,500.00. Following the completion of the transaction, the executive vice president now owns 920 shares of the company’s stock, valued at $61,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ajay Ayyappan sold 1,892 shares of ExlService stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $63.50, for a total transaction of $120,142.00. The disclosure for this sale can be found here. Insiders have sold 40,006 shares of company stock valued at $2,484,355 in the last ninety days. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in ExlService by 0.4% during the first quarter. Arizona State Retirement System now owns 52,948 shares of the business services provider’s stock worth $3,178,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in ExlService by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,268 shares of the business services provider’s stock worth $796,000 after buying an additional 240 shares during the last quarter. Millennium Management LLC raised its stake in ExlService by 3.6% during the fourth quarter. Millennium Management LLC now owns 7,985 shares of the business services provider’s stock worth $420,000 after buying an additional 276 shares during the last quarter. Tandem Investment Advisors Inc. raised its stake in ExlService by 7.0% during the first quarter. Tandem Investment Advisors Inc. now owns 4,659 shares of the business services provider’s stock worth $280,000 after buying an additional 306 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in ExlService by 3.6% during the first quarter. Mason Street Advisors LLC now owns 11,023 shares of the business services provider’s stock worth $662,000 after buying an additional 384 shares during the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.

About ExlService

ExlService Holdings, Inc provides operations management and analytics services in the United States, the United Kingdom, and internationally. The company offers business process management (BPM) services to the insurance industry in the areas of claims processing, subrogation, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business processing, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer services.

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