Van ECK Associates Corp Buys 30,945 Shares of ExlService Holdings, Inc. (NASDAQ:EXLS)

Van ECK Associates Corp lifted its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 40.0% in the third quarter, Holdings Channel.com reports. The fund owned 108,295 shares of the business services provider’s stock after acquiring an additional 30,945 shares during the quarter. Van ECK Associates Corp’s holdings in ExlService were worth $4,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXLS. William Blair Investment Management LLC increased its position in ExlService by 46.5% during the 2nd quarter. William Blair Investment Management LLC now owns 5,097,925 shares of the business services provider’s stock valued at $159,871,000 after purchasing an additional 1,618,003 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of ExlService in the 1st quarter valued at $19,417,000. Handelsbanken Fonder AB increased its position in shares of ExlService by 1,216.2% during the third quarter. Handelsbanken Fonder AB now owns 530,290 shares of the business services provider’s stock worth $20,231,000 after buying an additional 490,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in ExlService by 156.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 418,100 shares of the business services provider’s stock worth $13,296,000 after buying an additional 255,100 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in ExlService by 3.2% in the second quarter. Mackenzie Financial Corp now owns 7,616,982 shares of the business services provider’s stock valued at $238,869,000 after buying an additional 233,108 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ExlService news, EVP Anita Mahon sold 25,670 shares of ExlService stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $35.50, for a total transaction of $911,285.00. Following the transaction, the executive vice president now owns 68,857 shares of the company’s stock, valued at $2,444,423.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Anita Mahon sold 25,670 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $35.50, for a total value of $911,285.00. Following the transaction, the executive vice president now directly owns 68,857 shares of the company’s stock, valued at approximately $2,444,423.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vikas Bhalla sold 11,190 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $34.25, for a total transaction of $383,257.50. Following the sale, the insider now owns 100,866 shares of the company’s stock, valued at $3,454,660.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 296,688 shares of company stock worth $11,939,831. 4.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EXLS. Robert W. Baird lifted their price objective on ExlService from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded ExlService from a “hold” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on ExlService from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Citigroup raised their price objective on shares of ExlService from $38.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC boosted their target price on shares of ExlService from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ExlService presently has a consensus rating of “Moderate Buy” and an average price target of $42.86.

ExlService Stock Performance

NASDAQ EXLS opened at $45.73 on Friday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $38.74 and a 200 day simple moving average of $34.33. ExlService Holdings, Inc. has a 12-month low of $26.23 and a 12-month high of $45.88. The company has a market cap of $7.36 billion, a P/E ratio of 40.11, a PEG ratio of 2.05 and a beta of 0.99.

ExlService (NASDAQ:EXLS) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. ExlService had a net margin of 10.61% and a return on equity of 23.23%. The company had revenue of $472.07 million during the quarter, compared to the consensus estimate of $460.73 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts predict that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

ExlService Company Profile

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.