Short Interest in ExlService Holdings, Inc. (NASDAQ:EXLS) Expands By 19.9%

ExlService Holdings, Inc. (NASDAQ:EXLS) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 604,600 shares, an increase of 19.9% from the September 30th total of 504,100 shares. Based on an average trading volume of 121,100 shares, the days-to-cover ratio is currently 5.0 days. Currently, 1.8% of the company’s stock are sold short.

Shares of NASDAQ EXLS traded up $0.10 during trading hours on Friday, hitting $69.38. 119,800 shares of the company’s stock were exchanged, compared to its average volume of 120,939. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.68 and a beta of 1.05. ExlService has a 1-year low of $44.29 and a 1-year high of $70.51. The company’s 50-day moving average price is $67.02 and its 200-day moving average price is $65.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.69 and a quick ratio of 2.69.

ExlService (NASDAQ:EXLS) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. The firm had revenue of $251.40 million for the quarter, compared to analyst estimates of $256.60 million. ExlService had a return on equity of 13.56% and a net margin of 5.17%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. On average, research analysts expect that ExlService will post 2.36 earnings per share for the current year.

In other news, COO Pavan Bagai sold 10,346 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.52, for a total transaction of $708,907.92. Following the completion of the sale, the chief operating officer now owns 45,416 shares in the company, valued at approximately $3,111,904.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rohit Kapoor sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $69.06, for a total value of $1,726,500.00. Following the transaction, the chief executive officer now directly owns 267,577 shares of the company’s stock, valued at approximately $18,478,867.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,912 shares of company stock valued at $2,684,850. 3.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in EXLS. Tower Research Capital LLC TRC boosted its position in ExlService by 100.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 391 shares of the business services provider’s stock valued at $26,000 after buying an additional 196 shares during the last quarter. Strs Ohio bought a new position in ExlService in the 2nd quarter valued at $72,000. CIBC Asset Management Inc bought a new position in ExlService in the 2nd quarter valued at $200,000. Citadel Advisors LLC boosted its position in ExlService by 183.3% in the 2nd quarter. Citadel Advisors LLC now owns 3,332 shares of the business services provider’s stock valued at $221,000 after buying an additional 7,332 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new position in ExlService in the 3rd quarter valued at $241,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Several equities analysts recently weighed in on the company. ValuEngine cut ExlService from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub cut ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, October 23rd. Zacks Investment Research raised ExlService from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, October 31st. Barrington Research reissued an “outperform” rating and set a $79.00 price objective (up previously from $70.00) on shares of ExlService in a research report on Wednesday, July 31st. Finally, Citigroup boosted their price objective on ExlService from $60.00 to $64.00 and gave the stock a “sell” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. ExlService currently has a consensus rating of “Hold” and a consensus target price of $71.50.

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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