State of Tennessee Treasury Department Acquires 10,919 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

State of Tennessee Treasury Department increased its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS) by 52.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,765 shares of the business services provider’s stock after acquiring an additional 10,919 shares during the period. State of Tennessee Treasury Department owned about 0.09% of ExlService worth $2,127,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of ExlService by 0.8% in the second quarter. BlackRock Inc. now owns 4,994,584 shares of the business services provider’s stock valued at $330,293,000 after acquiring an additional 41,481 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of ExlService by 4.9% in the second quarter. TimesSquare Capital Management LLC now owns 1,029,056 shares of the business services provider’s stock valued at $68,051,000 after acquiring an additional 48,220 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of ExlService by 99.5% in the second quarter. Royal Bank of Canada now owns 595,944 shares of the business services provider’s stock valued at $39,410,000 after acquiring an additional 297,151 shares in the last quarter. Bernzott Capital Advisors grew its holdings in shares of ExlService by 0.4% in the second quarter. Bernzott Capital Advisors now owns 447,706 shares of the business services provider’s stock valued at $29,607,000 after acquiring an additional 1,599 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of ExlService by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 438,023 shares of the business services provider’s stock valued at $28,967,000 after acquiring an additional 1,512 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

Shares of NASDAQ EXLS opened at $69.35 on Friday. The stock has a fifty day simple moving average of $66.60 and a two-hundred day simple moving average of $64.97. ExlService Holdings, Inc. has a 1-year low of $44.29 and a 1-year high of $70.51. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 2.67 and a beta of 1.05. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.35.

ExlService (NASDAQ:EXLS) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The company had revenue of $251.40 million for the quarter, compared to analysts’ expectations of $256.60 million. ExlService had a return on equity of 13.56% and a net margin of 5.17%. ExlService’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. Analysts forecast that ExlService Holdings, Inc. will post 2.36 EPS for the current year.

Several brokerages have weighed in on EXLS. Citigroup increased their price objective on ExlService from $60.00 to $64.00 and gave the company a “sell” rating in a report on Wednesday, October 30th. Wedbush reissued a “neutral” rating on shares of ExlService in a report on Tuesday, July 16th. BidaskClub lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, October 23rd. ValuEngine lowered ExlService from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barrington Research reissued an “outperform” rating and set a $79.00 price objective (up from $70.00) on shares of ExlService in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $71.50.

In other ExlService news, COO Pavan Bagai sold 10,346 shares of ExlService stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.52, for a total transaction of $708,907.92. Following the sale, the chief operating officer now directly owns 45,416 shares of the company’s stock, valued at approximately $3,111,904.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rohit Kapoor sold 3,565 shares of ExlService stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $69.95, for a total value of $249,371.75. Following the sale, the chief executive officer now directly owns 228,445 shares in the company, valued at $15,979,727.75. The disclosure for this sale can be found here. Insiders sold 38,912 shares of company stock worth $2,684,850 over the last three months. 3.60% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for ExlService (NASDAQ:EXLS)

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