M&T Bank Corp Reduces Position in ExlService Holdings, Inc. (NASDAQ:EXLS)

M&T Bank Corp cut its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 13.9% in the first quarter, Holdings Channel.com reports. The firm owned 4,407 shares of the business services provider’s stock after selling 711 shares during the quarter. M&T Bank Corp’s holdings in ExlService were worth $208,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in shares of ExlService during the 4th quarter worth about $49,000. Johnson Financial Group Inc. purchased a new position in shares of ExlService during the 4th quarter worth about $85,000. Fifth Third Bancorp boosted its stake in shares of ExlService by 35.2% during the 1st quarter. Fifth Third Bancorp now owns 2,131 shares of the business services provider’s stock worth $101,000 after purchasing an additional 555 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of ExlService during the 1st quarter worth about $102,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of ExlService during the 4th quarter worth about $99,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EXLS. JPMorgan Chase & Co. boosted their price objective on shares of ExlService from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of ExlService in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of ExlService from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Insider Activity at ExlService

In other news, insider Vikas Bhalla sold 25,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.11, for a total value of $1,152,750.00. Following the sale, the insider owned 135,046 shares in the company, valued at $6,226,971.06. This represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jaynie M. Studenmund sold 14,580 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $47.53, for a total transaction of $692,987.40. The disclosure for this sale can be found here. Insiders own 4.04% of the company’s stock.

ExlService Price Performance

Shares of EXLS opened at $42.54 on Friday. The company has a 50 day moving average price of $45.46 and a 200-day moving average price of $46.52. ExlService Holdings, Inc. has a fifty-two week low of $31.87 and a fifty-two week high of $52.43. The stock has a market capitalization of $6.92 billion, a PE ratio of 32.23, a PEG ratio of 1.94 and a beta of 0.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.41 and a current ratio of 3.41.

ExlService (NASDAQ:EXLS) last posted its quarterly earnings data on Tuesday, April 29th. The business services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $501.02 million during the quarter, compared to analyst estimates of $489.66 million. ExlService had a net margin of 11.36% and a return on equity of 25.11%. ExlService’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. Equities analysts predict that ExlService Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

ExlService 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.