M&T Bank Corp Makes New $204,000 Investment in ExlService Holdings, Inc. (NASDAQ:EXLS)

M&T Bank Corp bought a new stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,357 shares of the business services provider’s stock, valued at approximately $204,000.

Several other large investors also recently modified their holdings of the stock. Raymond James & Associates lifted its stake in ExlService by 16.7% during the second quarter. Raymond James & Associates now owns 520,232 shares of the business services provider’s stock worth $16,314,000 after purchasing an additional 74,419 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in ExlService by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,641,949 shares of the business services provider’s stock worth $51,492,000 after acquiring an additional 110,526 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in ExlService by 7.4% in the second quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 29,000 shares of the business services provider’s stock valued at $909,000 after purchasing an additional 2,000 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of ExlService by 6.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 74,742 shares of the business services provider’s stock valued at $2,344,000 after buying an additional 4,446 shares during the period. Finally, RiverPark Advisors LLC increased its position in ExlService by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 8,131 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 714 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

ExlService Price Performance

Shares of NASDAQ:EXLS opened at $44.84 on Friday. ExlService Holdings, Inc. has a twelve month low of $28.16 and a twelve month high of $47.37. The stock’s 50 day moving average is $43.84 and its 200-day moving average is $37.48. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 2.26 and a beta of 1.01.

ExlService (NASDAQ:EXLS) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The firm had revenue of $472.07 million for the quarter, compared to the consensus estimate of $460.73 million. ExlService had a net margin of 10.61% and a return on equity of 23.23%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Sell-side analysts forecast that ExlService Holdings, Inc. will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EXLS. Citigroup lifted their target price on shares of ExlService from $38.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Jefferies Financial Group raised ExlService from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $42.00 in a research note on Monday, September 9th. Robert W. Baird raised their target price on ExlService from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on ExlService from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC raised their price objective on shares of ExlService from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.86.

Insider Activity at ExlService

In other news, Director Jaynie M. Studenmund sold 3,645 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $44.05, for a total value of $160,562.25. Following the completion of the sale, the director now owns 14,580 shares in the company, valued at $642,249. This represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rohit Kapoor sold 100,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $41.45, for a total transaction of $4,145,000.00. Following the completion of the sale, the chief executive officer now owns 1,290,240 shares of the company’s stock, valued at approximately $53,480,448. This represents a 7.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 426,458 shares of company stock valued at $18,720,514. 4.16% of the stock is owned by corporate insiders.

ExlService Company Profile

ExlService Holdings, Inc operates as a data analytics, and digital operations and solutions company in the United States and internationally. The company operates through Insurance, Healthcare, Analytics, and Emerging Business segments. It also provides digital operations and solutions and analytics-driven services, such as claims processing, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business acquisition, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer service using digital technology, artificial intelligence, machine learning, and advanced automation; digital customer acquisition services using a software-as-a-service delivery model through LifePRO and LISS platforms; subrogation services; and Subrosource software platform, an end-to-end subrogation platform.