Nordea Investment Management AB Makes New $23.57 Million Investment in ExlService Holdings, Inc. $EXLS

Nordea Investment Management AB bought a new stake in ExlService Holdings, Inc. (NASDAQ:EXLS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 552,242 shares of the business services provider’s stock, valued at approximately $23,570,000.

Several other large investors have also modified their holdings of EXLS. Empowered Funds LLC grew its holdings in shares of ExlService by 277.7% during the 1st quarter. Empowered Funds LLC now owns 17,384 shares of the business services provider’s stock worth $821,000 after purchasing an additional 12,781 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in ExlService by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 497,474 shares of the business services provider’s stock valued at $23,486,000 after buying an additional 19,769 shares during the period. Jane Street Group LLC purchased a new stake in ExlService in the 1st quarter valued at about $10,084,000. Cetera Investment Advisers lifted its position in ExlService by 10.4% in the second quarter. Cetera Investment Advisers now owns 24,664 shares of the business services provider’s stock valued at $1,080,000 after buying an additional 2,329 shares during the last quarter. Finally, Magnetar Financial LLC lifted its position in ExlService by 36.3% in the second quarter. Magnetar Financial LLC now owns 11,197 shares of the business services provider’s stock valued at $490,000 after buying an additional 2,984 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

ExlService Stock Performance

NASDAQ EXLS opened at $30.30 on Wednesday. The company has a market cap of $4.74 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a 50-day moving average of $33.76 and a two-hundred day moving average of $38.77. ExlService Holdings, Inc. has a 1-year low of $26.94 and a 1-year high of $48.79.

ExlService announced that its board has initiated a share buyback program on Tuesday, March 17th that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at ExlService

In other news, EVP Ajay Ayyappan sold 8,114 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $42.53, for a total value of $345,088.42. Following the completion of the transaction, the executive vice president owned 53,515 shares of the company’s stock, valued at approximately $2,275,992.95. This trade represents a 13.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 11,586 shares of company stock valued at $449,725 over the last ninety days. Company insiders own 4.04% of the company’s stock.

Analyst Upgrades and Downgrades

EXLS has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target (down from $55.00) on shares of ExlService in a research report on Wednesday, February 25th. Robert W. Baird set a $35.00 price objective on shares of ExlService in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ExlService in a research report on Thursday, January 22nd. TD Cowen dropped their target price on shares of ExlService from $51.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Wall Street Zen raised ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.60.

ExlService Profile

ExlService Holdings, Inc (NASDAQ: EXLS) is a global operations management and analytics company that partners with clients in insurance, healthcare, banking, and financial services to drive digital transformation and operational excellence. The firm delivers analytics-driven solutions and business process outsourcing services, including claims adjudication, finance and accounting, data management, and customer service support. ExlService combines domain expertise with advanced analytics, artificial intelligence, and automation technologies to help organizations optimize processes, enhance customer experiences, and manage risk.

Founded in 1999 and headquartered in New York City, ExlService has grown through a mix of organic expansion and strategic acquisitions, earning recognition for its data analytics capabilities and industry-specific knowledge.