ExlService Holdings, Inc. $EXLS Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its stake in ExlService Holdings, Inc. (NASDAQ:EXLS) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 416,347 shares of the business services provider’s stock after selling 30,246 shares during the period. ExlService accounts for 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Tributary Capital Management LLC’s holdings in ExlService were worth $17,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of ExlService by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,412,882 shares of the business services provider’s stock valued at $238,331,000 after buying an additional 68,398 shares in the last quarter. Fenimore Asset Management Inc boosted its holdings in shares of ExlService by 0.7% in the 3rd quarter. Fenimore Asset Management Inc now owns 2,789,992 shares of the business services provider’s stock valued at $122,843,000 after buying an additional 18,747 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of ExlService by 1.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,371,967 shares of the business services provider’s stock valued at $104,438,000 after buying an additional 37,881 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of ExlService by 540.4% in the 3rd quarter. AQR Capital Management LLC now owns 1,963,973 shares of the business services provider’s stock valued at $86,474,000 after buying an additional 1,657,317 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of ExlService by 71.7% in the 3rd quarter. Squarepoint Ops LLC now owns 1,689,373 shares of the business services provider’s stock valued at $74,383,000 after buying an additional 705,509 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on EXLS shares. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price (down from $55.00) on shares of ExlService in a report on Wednesday, February 25th. Stifel Nicolaus reduced their price target on shares of ExlService from $54.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Robert W. Baird set a $35.00 price target on shares of ExlService in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, TD Cowen reduced their price target on shares of ExlService from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.60.

ExlService Stock Up 1.2%

Shares of ExlService stock opened at $31.86 on Friday. The company has a market cap of $4.98 billion, a P/E ratio of 20.69, a PEG ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.56 and a current ratio of 2.56. ExlService Holdings, Inc. has a one year low of $26.94 and a one year high of $48.79. The firm has a fifty day moving average of $30.60 and a two-hundred day moving average of $37.19.

ExlService declared that its Board of Directors has approved a share buyback program on Tuesday, March 17th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the business services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other ExlService news, EVP Ajay Ayyappan sold 8,114 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $42.53, for a total transaction of $345,088.42. Following the completion of the transaction, the executive vice president owned 53,515 shares in the company, valued at approximately $2,275,992.95. This represents a 13.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, 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.