Bayforest Capital Ltd Boosts Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

Bayforest Capital Ltd raised its holdings in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 227.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,197 shares of the business services provider’s stock after buying an additional 3,612 shares during the quarter. Bayforest Capital Ltd’s holdings in ExlService were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in ExlService by 48.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 147,081 shares of the business services provider’s stock worth $7,028,000 after buying an additional 48,056 shares in the last quarter. QRG Capital Management Inc. grew its position in ExlService by 3.7% during the first quarter. QRG Capital Management Inc. now owns 15,713 shares of the business services provider’s stock worth $742,000 after buying an additional 559 shares in the last quarter. KBC Group NV lifted its stake in ExlService by 13.4% during the first quarter. KBC Group NV now owns 7,466 shares of the business services provider’s stock worth $352,000 after purchasing an additional 883 shares during the last quarter. GAMMA Investing LLC lifted its stake in ExlService by 20.6% during the first quarter. GAMMA Investing LLC now owns 3,510 shares of the business services provider’s stock worth $166,000 after purchasing an additional 599 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in ExlService by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,112 shares of the business services provider’s stock worth $713,000 after purchasing an additional 286 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EXLS shares. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of ExlService in a research note on Tuesday, June 3rd. Wall Street Zen raised ExlService from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on ExlService from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.50.

ExlService Trading Down 2.9%

NASDAQ EXLS opened at $42.16 on Friday. ExlService Holdings, Inc. has a 1-year low of $31.87 and a 1-year high of $52.43. The company has a current ratio of 3.15, a quick ratio of 3.41 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $44.76 and a 200-day moving average of $46.36. The firm has a market cap of $6.81 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81.

ExlService (NASDAQ:EXLS) last released its earnings results on Tuesday, July 29th. The business services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. ExlService had a return on equity of 25.38% and a net margin of 12.00%. The company had revenue of $514.46 million during the quarter, compared to analyst estimates of $504.87 million. During the same quarter in the previous year, the company posted $0.40 EPS. ExlService’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, sell-side analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current year.

Insider Buying and Selling

In other ExlService news, insider Vikas Bhalla sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.11, for a total transaction of $1,152,750.00. Following the completion of the transaction, the insider owned 135,046 shares of the company’s stock, valued at $6,226,971.06. This represents a 15.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.04% of the stock is owned by insiders.

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.