Acadian Asset Management LLC Trims Stake in ExlService Holdings, Inc. (NASDAQ:EXLS)

Acadian Asset Management LLC decreased its holdings in ExlService Holdings, Inc. (NASDAQ:EXLS) by 56.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,454 shares of the business services provider’s stock after selling 30,922 shares during the quarter. Acadian Asset Management LLC owned 0.07% of ExlService worth $1,407,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of ExlService by 6.0% during the 4th quarter. Arizona State Retirement System now owns 52,755 shares of the business services provider’s stock valued at $2,776,000 after acquiring an additional 2,979 shares during the last quarter. Rhumbline Advisers grew its holdings in ExlService by 19.3% in the 4th quarter. Rhumbline Advisers now owns 104,339 shares of the business services provider’s stock valued at $5,490,000 after buying an additional 16,849 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in ExlService by 5.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 28,696 shares of the business services provider’s stock valued at $1,510,000 after buying an additional 1,519 shares during the last quarter. TD Asset Management Inc. grew its holdings in ExlService by 14.7% in the 4th quarter. TD Asset Management Inc. now owns 65,600 shares of the business services provider’s stock valued at $3,452,000 after buying an additional 8,400 shares during the last quarter. Finally, Renaissance Group LLC acquired a new stake in ExlService in the 4th quarter valued at approximately $444,000. Institutional investors and hedge funds own 92.11% of the company’s stock.

In related news, EVP Vikas Bhalla sold 10,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $66.35, for a total transaction of $663,500.00. Following the completion of the sale, the executive vice president now directly owns 920 shares of the company’s stock, valued at approximately $61,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vishal Chhibbar sold 25,698 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $60.41, for a total value of $1,552,416.18. Following the sale, the chief financial officer now directly owns 30,747 shares of the company’s stock, valued at $1,857,426.27. The disclosure for this sale can be found here. Insiders have sold a total of 40,006 shares of company stock valued at $2,484,355 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

EXLS has been the topic of a number of research analyst reports. BidaskClub raised ExlService from a “hold” rating to a “buy” rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded ExlService from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Robert W. Baird downgraded ExlService from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $63.00 in a research report on Friday, March 1st. Citigroup raised their price objective on ExlService from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $71.00 price objective on shares of ExlService in a research report on Sunday, April 28th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.20.

Shares of ExlService stock traded up $0.26 during midday trading on Friday, hitting $66.13. 318,727 shares of the company were exchanged, compared to its average volume of 119,381. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.40 and a current ratio of 3.40. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 2.61 and a beta of 1.05. ExlService Holdings, Inc. has a 52 week low of $44.29 and a 52 week high of $67.68. The firm has a 50 day simple moving average of $61.59.

ExlService (NASDAQ:EXLS) last posted its earnings results on Tuesday, April 30th. The business services provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.17. The business had revenue of $239.57 million during the quarter, compared to the consensus estimate of $238.88 million. ExlService had a return on equity of 13.63% and a net margin of 5.27%. ExlService’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. As a group, sell-side analysts anticipate that ExlService Holdings, Inc. will post 2.31 earnings per share for the current year.

About ExlService

ExlService Holdings, Inc provides operations management and analytics services in the United States, the United Kingdom, and internationally. The company offers business process management (BPM) services to the insurance industry in the areas of claims processing, subrogation, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business processing, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer services.

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Institutional Ownership by Quarter for ExlService (NASDAQ:EXLS)

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