ExlService (NASDAQ:EXLS) to Buyback $125.00 million in Outstanding Stock

ExlService (NASDAQ:EXLS) announced that its Board of Directors has authorized a share buyback program on Tuesday, March 17th, RTT News reports. The company plans to buyback $125.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

ExlService Stock Performance

Shares of EXLS opened at $30.75 on Friday. The firm has a fifty day moving average of $34.45 and a 200-day moving average of $39.12. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.56 and a current ratio of 2.56. ExlService has a 1 year low of $26.94 and a 1 year high of $48.79.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EXLS shares. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ExlService in a research note on Thursday, January 22nd. TD Cowen cut their target price on shares of ExlService from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Stifel Nicolaus decreased their target price on ExlService from $54.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price (down from $55.00) on shares of ExlService in a report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.60.

Insider Activity at ExlService

In other news, EVP Ajay Ayyappan sold 1,197 shares of ExlService stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $29.79, for a total transaction of $35,658.63. Following the sale, the executive vice president owned 53,901 shares of the company’s stock, valued at approximately $1,605,710.79. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 11,586 shares of company stock valued at $449,725 in the last quarter. 4.04% of the stock is currently owned by company insiders.

About ExlService

ExlService Holdings, Inc (NASDAQ: EXLS) is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.