Zacks Investment Research upgraded shares of ExlService Holdings, Inc. (NASDAQ:EXLS) from a hold rating to a strong-buy rating in a report released on Tuesday morning. They currently have $66.00 price objective on the business services provider’s stock.

According to Zacks, “EXLSERVICE HOLDINGS,INC., is a leading provider of offshore Business Process Outsourcing solutions to the Global 1000. EXL is an organization that strives to build lasting relationships with its clients based on consistent high-quality service delivery, trust, and confidence that is unparalleled in the BPO industry today. EXL specializes in providing BPO services to the Banking, Financial Services, Insurance, and Utilities industry verticals. “

Other equities research analysts have also recently issued reports about the company. Citigroup Inc. cut ExlService Holdings from a buy rating to a neutral rating and raised their target price for the company from $54.00 to $59.00 in a research report on Tuesday, July 18th. Barrington Research set a $65.00 target price on ExlService Holdings and gave the company an outperform rating in a research report on Friday, July 28th. Cantor Fitzgerald restated an overweight rating and set a $56.00 target price (up from $50.00) on shares of ExlService Holdings in a research report on Wednesday, May 3rd. Needham & Company LLC raised their target price on ExlService Holdings from $56.00 to $59.00 and gave the company a buy rating in a research report on Wednesday, June 21st. Finally, Stifel Nicolaus restated a buy rating and set a $67.00 target price (up from $60.00) on shares of ExlService Holdings in a research report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $60.33.

ExlService Holdings (NASDAQ EXLS) opened at 56.77 on Tuesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of 28.80 and a beta of 1.30. ExlService Holdings has a 12 month low of $42.00 and a 12 month high of $59.84. The stock has a 50 day moving average price of $55.07 and a 200 day moving average price of $49.65.

ExlService Holdings (NASDAQ:EXLS) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.24. The company had revenue of $189.10 million for the quarter, compared to the consensus estimate of $185.65 million. ExlService Holdings had a return on equity of 14.34% and a net margin of 9.53%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Equities analysts predict that ExlService Holdings will post $2.61 EPS for the current fiscal year.

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In related news, CEO Rohit Kapoor sold 43,337 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $55.03, for a total value of $2,384,835.11. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Vishal Chhibbar sold 1,234 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $55.80, for a total transaction of $68,857.20. Following the completion of the transaction, the chief financial officer now directly owns 7,119 shares in the company, valued at $397,240.20. The disclosure for this sale can be found here. Insiders have sold a total of 81,242 shares of company stock worth $4,403,811 over the last 90 days. Insiders own 5.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EXLS. Bank of Montreal Can raised its position in shares of ExlService Holdings by 0.7% in the second quarter. Bank of Montreal Can now owns 4,478 shares of the business services provider’s stock worth $249,000 after buying an additional 31 shares in the last quarter. Atria Investments LLC raised its position in shares of ExlService Holdings by 1.1% in the second quarter. Atria Investments LLC now owns 5,055 shares of the business services provider’s stock worth $281,000 after buying an additional 56 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of ExlService Holdings by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,700 shares of the business services provider’s stock worth $175,000 after buying an additional 70 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of ExlService Holdings by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the business services provider’s stock worth $644,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of ExlService Holdings by 0.6% in the second quarter. Arizona State Retirement System now owns 17,592 shares of the business services provider’s stock worth $978,000 after buying an additional 100 shares in the last quarter. 94.61% of the stock is currently owned by hedge funds and other institutional investors.

ExlService Holdings Company Profile

ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.

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Analyst Recommendations for ExlService Holdings (NASDAQ:EXLS)

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