Norges Bank Purchases Shares of 2,398,656 ExlService Holdings, Inc. (NASDAQ:EXLS)

Norges Bank acquired a new position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,398,656 shares of the business services provider’s stock, valued at approximately $106,452,000.

Several other institutional investors have also recently made changes to their positions in EXLS. Mather Group LLC. acquired a new stake in ExlService during the fourth quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in shares of ExlService during the 4th quarter worth about $26,000. USA Financial Formulas acquired a new stake in shares of ExlService during the 4th quarter valued at about $58,000. VisionPoint Advisory Group LLC purchased a new position in shares of ExlService in the 4th quarter valued at about $58,000. Finally, UMB Bank n.a. boosted its position in ExlService by 17.6% during the fourth quarter. UMB Bank n.a. now owns 1,926 shares of the business services provider’s stock worth $85,000 after purchasing an additional 288 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ajay Ayyappan sold 1,865 shares of ExlService stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $48.32, for a total transaction of $90,116.80. Following the sale, the executive vice president now owns 40,986 shares of the company’s stock, valued at approximately $1,980,443.52. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Maurizio Nicolelli sold 13,753 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $49.14, for a total value of $675,822.42. Following the completion of the transaction, the chief financial officer now owns 194,440 shares of the company’s stock, valued at $9,554,781.60. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,351 shares of company stock valued at $2,337,284. 4.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EXLS shares. StockNews.com upgraded ExlService from a “hold” rating to a “buy” rating in a research report on Sunday, February 2nd. Jefferies Financial Group upped their price objective on shares of ExlService from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Needham & Company LLC increased their price objective on shares of ExlService from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their target price on shares of ExlService from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, ExlService has a consensus rating of “Moderate Buy” and a consensus target price of $47.38.

ExlService Trading Up 1.2 %

EXLS opened at $47.78 on Wednesday. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 41.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company’s 50 day simple moving average is $48.70 and its two-hundred day simple moving average is $44.99. ExlService Holdings, Inc. has a 1-year low of $28.16 and a 1-year high of $52.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.02 and a quick ratio of 3.02.

ExlService (NASDAQ:EXLS) last announced its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). The company had revenue of $481.43 million for the quarter, compared to analysts’ expectations of $475.68 million. ExlService had a return on equity of 23.23% and a net margin of 10.61%. Analysts expect that ExlService Holdings, Inc. will post 1.27 EPS 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.