ExlService Holdings, Inc. (NASDAQ:EXLS) Sees Significant Increase in Short Interest

ExlService Holdings, Inc. (NASDAQ:EXLS) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 8,764,243 shares, a growth of 18.5% from the February 12th total of 7,397,342 shares. Based on an average daily trading volume, of 2,473,494 shares, the days-to-cover ratio is presently 3.5 days. Currently, 5.8% of the company’s shares are sold short. Currently, 5.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,473,494 shares, the days-to-cover ratio is presently 3.5 days.

Insider Activity

In other news, EVP Ajay Ayyappan sold 8,114 shares of ExlService stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $42.53, for a total value of $345,088.42. Following the transaction, the executive vice president owned 53,515 shares in the company, valued at approximately $2,275,992.95. The trade was a 13.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,586 shares of company stock worth $449,725 over the last quarter. 4.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of ExlService by 9.5% in the 4th quarter. JPMorgan Chase & Co. now owns 5,927,793 shares of the business services provider’s stock worth $251,576,000 after buying an additional 514,911 shares during the last quarter. Invesco Ltd. increased its stake in shares of ExlService by 193.6% during the second quarter. Invesco Ltd. now owns 4,645,745 shares of the business services provider’s stock valued at $203,437,000 after buying an additional 3,063,510 shares during the period. AQR Capital Management LLC raised its holdings in shares of ExlService by 109.7% during the fourth quarter. AQR Capital Management LLC now owns 4,118,625 shares of the business services provider’s stock valued at $174,794,000 after acquiring an additional 2,154,652 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in ExlService by 10.7% in the fourth quarter. Handelsbanken Fonder AB now owns 3,781,036 shares of the business services provider’s stock worth $160,467,000 after acquiring an additional 364,146 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in ExlService by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,902,412 shares of the business services provider’s stock worth $123,181,000 after acquiring an additional 32,734 shares during the period. Institutional investors own 92.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXLS shares. TD Cowen dropped their target price on ExlService from $51.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ExlService in a research note on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective (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 ExlService in a research note on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.60.

ExlService Trading Up 0.8%

Shares of NASDAQ:EXLS traded up $0.24 during midday trading on Monday, hitting $29.88. 1,602,740 shares of the stock traded hands, compared to its average volume of 2,122,609. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $35.40 and its two-hundred day moving average is $39.42. The stock has a market capitalization of $4.67 billion, a PE ratio of 19.40, a P/E/G ratio of 1.33 and a beta of 0.91. ExlService has a one year low of $26.94 and a one year high of $48.79.

ExlService Company 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.