ExlService Holdings, Inc. (NASDAQ:EXLS) Short Interest Up 8.2% in March

ExlService Holdings, Inc. (NASDAQ:EXLSGet Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,200,000 shares, a growth of 8.2% from the February 29th total of 3,880,000 shares. Based on an average daily volume of 851,500 shares, the days-to-cover ratio is currently 4.9 days.

ExlService Stock Down 1.1 %

NASDAQ:EXLS traded down $0.35 during trading hours on Wednesday, hitting $30.53. The company’s stock had a trading volume of 57,265 shares, compared to its average volume of 869,115. ExlService has a 52-week low of $25.17 and a 52-week high of $35.94. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $5.06 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. The stock has a fifty day moving average of $31.15 and a 200-day moving average of $29.66.

ExlService (NASDAQ:EXLSGet Free Report) last issued its earnings results on Thursday, February 29th. The business services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $414.06 million for the quarter, compared to analyst estimates of $408.56 million. ExlService had a return on equity of 22.83% and a net margin of 11.32%. On average, equities analysts forecast that ExlService will post 1.3 earnings per share for the current year.

Analysts Set New Price Targets

EXLS has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of ExlService in a research note on Friday, March 1st. StockNews.com lowered shares of ExlService from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Wedbush reissued a “neutral” rating and issued a $34.00 price objective on shares of ExlService in a research note on Thursday, December 14th. TD Cowen lifted their price objective on shares of ExlService from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Citigroup upgraded shares of ExlService from a “neutral” rating to a “buy” rating and increased their target price for the stock from $29.00 to $36.00 in a report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Check Out Our Latest Report on EXLS

Insider Buying and Selling at ExlService

In other news, EVP Ajay Ayyappan sold 9,259 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $31.59, for a total transaction of $292,491.81. Following the completion of the transaction, the executive vice president now directly owns 50,693 shares in the company, valued at approximately $1,601,391.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Vikas Bhalla sold 23,760 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $31.51, for a total value of $748,677.60. Following the transaction, the executive vice president now directly owns 127,046 shares in the company, valued at approximately $4,003,219.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ajay Ayyappan sold 9,259 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $31.59, for a total transaction of $292,491.81. Following the transaction, the executive vice president now directly owns 50,693 shares of the company’s stock, valued at approximately $1,601,391.87. The disclosure for this sale can be found here. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of ExlService

Several institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in ExlService by 4.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,867 shares of the business services provider’s stock worth $520,000 after acquiring an additional 702 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new stake in shares of ExlService in the 4th quarter valued at about $42,000. Vanguard Group Inc. lifted its holdings in shares of ExlService by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,015,630 shares of the business services provider’s stock valued at $524,932,000 after purchasing an additional 180,928 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ExlService by 118.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,668,368 shares of the business services provider’s stock valued at $51,469,000 after purchasing an additional 905,144 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in ExlService during the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About ExlService

(Get Free Report)

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.

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