State of Michigan Retirement System Lowers Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

State of Michigan Retirement System decreased its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 39,100 shares of the business services provider’s stock after selling 1,400 shares during the quarter. State of Michigan Retirement System’s holdings in ExlService were worth $1,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of ExlService by 18.2% in the first quarter. Russell Investments Group Ltd. now owns 257,029 shares of the business services provider’s stock worth $8,174,000 after acquiring an additional 39,537 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of ExlService in the 1st quarter valued at $19,417,000. Goldman Sachs Group Inc. grew its stake in shares of ExlService by 118.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,668,368 shares of the business services provider’s stock valued at $51,469,000 after buying an additional 905,144 shares during the period. Vanguard Group Inc. increased its holdings in shares of ExlService by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 17,176,353 shares of the business services provider’s stock worth $546,208,000 after buying an additional 160,723 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of ExlService by 661.3% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 90,499 shares of the business services provider’s stock worth $2,792,000 after buying an additional 78,612 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EXLS shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of ExlService in a research report on Friday, August 2nd. Citigroup boosted their target price on ExlService from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Wedbush upgraded shares of ExlService from a “neutral” rating to an “outperform” rating and raised their price target for the company from $34.00 to $40.00 in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.60.

Insider Buying and Selling

In other ExlService news, insider Vivek Jetley sold 6,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $32.75, for a total value of $196,500.00. Following the completion of the transaction, the insider now directly owns 328,657 shares of the company’s stock, valued at approximately $10,763,516.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ExlService news, insider Vivek Jetley sold 6,000 shares of ExlService stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $32.75, for a total transaction of $196,500.00. Following the sale, the insider now directly owns 328,657 shares in the company, valued at approximately $10,763,516.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Narasimha Kini sold 8,435 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $33.00, for a total value of $278,355.00. Following the completion of the transaction, the executive vice president now directly owns 179,038 shares in the company, valued at $5,908,254. The disclosure for this sale can be found here. Insiders have sold 128,625 shares of company stock valued at $4,419,281 in the last quarter. Company insiders own 3.75% of the company’s stock.

ExlService Price Performance

Shares of NASDAQ EXLS opened at $36.08 on Friday. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 1.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.54. ExlService Holdings, Inc. has a 1-year low of $25.17 and a 1-year high of $36.74. The business has a 50-day moving average of $33.67 and a 200-day moving average of $31.50.

ExlService (NASDAQ:EXLS) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. ExlService had a net margin of 10.45% and a return on equity of 22.92%. The company had revenue of $448.40 million during the quarter, compared to the consensus estimate of $444.61 million. During the same quarter last year, the company earned $0.31 earnings per share. ExlService’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate 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.