ExlService (NASDAQ:EXLS) Board Approves Stock Repurchase Plan

ExlService (NASDAQ:EXLS) announced that its board has authorized a stock buyback plan on Tuesday, March 17th, RTT News reports. The company plans to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

ExlService Price Performance

Shares of ExlService stock traded up $0.95 during trading hours on Tuesday, reaching $30.83. 2,481,403 shares of the company’s stock were exchanged, compared to its average volume of 2,417,240. The business has a fifty day moving average of $34.93 and a two-hundred day moving average of $39.24. The company has a market capitalization of $4.82 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.32. ExlService has a 1 year low of $26.94 and a 1 year high of $48.79.

Analysts Set New Price Targets

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

Insider Transactions at ExlService

In other ExlService news, EVP Ajay Ayyappan sold 1,197 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $29.79, for a total value of $35,658.63. Following the transaction, the executive vice president directly owned 53,901 shares of the company’s stock, valued at $1,605,710.79. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 11,586 shares of company stock worth $449,725. 4.04% of the stock is currently owned by corporate insiders.

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.