ExlService (EXLS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of ExlService (NASDAQ:EXLS) from a hold rating to a sell rating in a research note released on Wednesday, December 27th.

According to Zacks, “EXLSERVICE HOLDINGS,INC., is a leading provider of offshore Business Process Outsourcing solutions to the Global 1000. EXL is an organization that strives to build lasting relationships with its clients based on consistent high-quality service delivery, trust, and confidence that is unparalleled in the BPO industry today. EXL specializes in providing BPO services to the Banking, Financial Services, Insurance, and Utilities industry verticals. “

Other analysts have also recently issued reports about the company. Stifel Nicolaus reissued a buy rating and issued a $67.00 price target on shares of ExlService in a research report on Thursday, October 26th. Cantor Fitzgerald reaffirmed a buy rating and issued a $64.00 price objective on shares of ExlService in a research report on Thursday, October 26th. Cowen reaffirmed a buy rating and issued a $54.00 price objective on shares of ExlService in a research report on Thursday, October 12th. Robert W. Baird reaffirmed a buy rating and issued a $62.00 price objective on shares of ExlService in a research report on Friday, September 8th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $68.00 price objective (up from $60.00) on shares of ExlService in a research report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $62.42.

ExlService (EXLS) opened at $62.04 on Wednesday. ExlService has a twelve month low of $44.25 and a twelve month high of $63.35. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2,110.00, a PE ratio of 29.40, a P/E/G ratio of 1.94 and a beta of 1.26.

ExlService (NASDAQ:EXLS) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. ExlService had a return on equity of 14.38% and a net margin of 10.96%. The firm had revenue of $192.30 million for the quarter, compared to the consensus estimate of $191.20 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. equities analysts forecast that ExlService will post 2.12 earnings per share for the current year.

In other ExlService news, Director Clyde W. Ostler sold 6,916 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $62.10, for a total value of $429,483.60. Following the completion of the sale, the director now owns 6,916 shares in the company, valued at approximately $429,483.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rohit Kapoor sold 16,206 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $62.56, for a total value of $1,013,847.36. The disclosure for this sale can be found here. Insiders sold a total of 55,340 shares of company stock valued at $3,427,555 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of EXLS. Bank of Montreal Can grew its position in shares of ExlService by 0.7% during the second quarter. Bank of Montreal Can now owns 4,478 shares of the business services provider’s stock valued at $249,000 after purchasing an additional 31 shares in the last quarter. Sei Investments Co. grew its position in shares of ExlService by 105.3% during the second quarter. Sei Investments Co. now owns 3,899 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 2,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of ExlService by 7.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 144,181 shares of the business services provider’s stock valued at $8,014,000 after acquiring an additional 9,895 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of ExlService by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 17,592 shares of the business services provider’s stock valued at $978,000 after acquiring an additional 100 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of ExlService in the 2nd quarter valued at about $700,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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ExlService Company Profile

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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