ExlService (NASDAQ:EXLS) Given New $50.00 Price Target at Needham & Company LLC

ExlService (NASDAQ:EXLS) had its target price hoisted by analysts at Needham & Company LLC from $45.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Needham & Company LLC‘s price target would suggest a potential upside of 24.22% from the company’s previous close.

Several other research analysts have also weighed in on the company. Wall Street Zen raised ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. TD Cowen reiterated a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of ExlService in a report on Thursday, August 27th. Weiss Ratings raised ExlService from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Robert W. Baird set a $45.00 price target on ExlService and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Finally, Barrington Research set a $43.00 price objective on ExlService in a report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.33.

ExlService Stock Down 1.7%

Shares of EXLS traded down $0.68 during mid-day trading on Wednesday, hitting $40.25. The company had a trading volume of 2,857,365 shares, compared to its average volume of 2,327,130. ExlService has a 1-year low of $24.85 and a 1-year high of $43.88. The business’s 50-day simple moving average is $37.06 and its 200-day simple moving average is $32.82. The stock has a market cap of $6.10 billion, a PE ratio of 25.29, a P/E/G ratio of 1.70 and a beta of 0.84.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings results on Tuesday, October 27th. The business services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. The firm had revenue of $633.96 million during the quarter, compared to analyst estimates of $615.51 million. ExlService had a net margin of 11.17% and a return on equity of 30.61%. ExlService’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share. On average, sell-side analysts expect that ExlService will post 1.82 earnings per share for the current year.

Insider Activity at ExlService

In other ExlService news, insider Vikas Bhalla sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $35.38, for a total value of $389,180.00. Following the completion of the transaction, the insider owned 109,295 shares in the company, valued at $3,866,857.10. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.66% of the company’s stock.

Institutional Trading of ExlService

Hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in ExlService by 8.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 85,600 shares of the business services provider’s stock valued at $2,943,000 after buying an additional 6,600 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd acquired a new position in shares of ExlService in the 3rd quarter worth approximately $14,505,000. Park Avenue Securities LLC acquired a new position in shares of ExlService in the 3rd quarter worth approximately $312,000. Brucke Financial Inc. bought a new stake in shares of ExlService in the 3rd quarter valued at approximately $274,000. Finally, Gibbs Wealth Management increased its holdings in shares of ExlService by 5.4% in the 3rd quarter. Gibbs Wealth Management now owns 10,402 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 535 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About ExlService

ExlService Holdings, Inc, operating under the EXL brand, is a data analytics and digital operations company that helps businesses use data, technology and artificial intelligence to improve decision-making, manage risk and enhance operational performance. Its services include data management, advanced analytics, business process solutions, automation and technology-enabled transformation.

EXL serves clients across industries including insurance, healthcare, banking and capital markets, utilities, travel and transportation, retail, media and manufacturing.