SummaryExlService is rated a Strong Buy, as AI adoption accelerates revenue growth and the disruption narrative has compressed its valuation to 18x forward P/E.EXLS's data- and AI-led business, now 61% of revenue, is growing at 30% YoY, offsetting a purposeful decline in legacy digital operations.EXLS addresses sovereignty and liability barriers in regulated industries, enabling enterprise AI integration and driving outcome-based revenue with high retention.My projections suggest EXLS could double by end-2027 if AI-led growth persists and the multiple re-rates, while the bear case downside is -32%. sitox/E+ via Getty Images
Investment Thesis Over the first half of 2026, the market priced ExlService (EXLS) as a severe AI casualty. If we take a look at this chart, we can see it tells a story of two parts: in February 2026, the whole consulting/data management
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of EXLS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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The market expects ExlService Holdings (EXLS - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 27, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis provider of outsourcing services is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +16.7%.
Revenues are expected to be $616.29 million, up 16.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for ExlService Holdings?For ExlService Holdings, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.06%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that ExlService Holdings will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that ExlService Holdings would post earnings of $0.55 per share when it actually produced earnings of $0.59, delivering a surprise of +7.27%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
ExlService Holdings appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsAnother stock from the Zacks Computers - IT Services industry, Roper Technologies (ROP - Free Report) , is soon expected to post earnings of $5.79 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +12.7%. Revenues for the quarter are expected to be $2.18 billion, up 7.9% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Roper Technologies has remained unchanged. Nevertheless, the company now has an Earnings ESP of +1.13%, reflecting a higher Most Accurate Estimate.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that Roper Technologies will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider ExlService Holdings (EXLS - Free Report) . This company, which is in the Zacks Computers - IT Services industry, shows potential for another earnings beat.
This provider of outsourcing services has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 8.35%.
For the last reported quarter, ExlService Holdings came out with earnings of $0.59 per share versus the Zacks Consensus Estimate of $0.55 per share, representing a surprise of 7.27%. For the previous quarter, the company was expected to post earnings of $0.53 per share and it actually produced earnings of $0.58 per share, delivering a surprise of 9.43%.
Price and EPS Surprise
Thanks in part to this history, there has been a favorable change in earnings estimates for ExlService Holdings lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
ExlService Holdings has an Earnings ESP of +1.06% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on October 27, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
ExlService Holdings (EXLS - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this provider of outsourcing services is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for ExlService Holdings is 18.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17.6% this year, crushing the industry average, which calls for EPS growth of 11.6%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for ExlService Holdings is 25.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 10.2%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.8% over the past 3-5 years versus the industry average of 8%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for ExlService Holdings. The Zacks Consensus Estimate for the current year has surged 0.1% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made ExlService Holdings a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions ExlService Holdings well for outperformance, so growth investors may want to bet on it.
A Look at ExlService Holdings Inc (EXLS) After 3.8% Gain -- GF Value $49.53 vs Price $36.87
On October 08, 2026, ExlService Holdings Inc EXLS shares rose 3.8% to a current price of $36.87. This price sits within a 52-week range of $24.85 to $43.88, reflecting some fluctuations in market confidence over the past year.
GF Value™ verdict: EXLS is currently priced at $36.87, which is 25.6% below its GF Value™ of $49.53, indicating it is undervalued.GF Score™ of 96/100 suggests a strong overall performance relative to its peers.Notable signal: Financial strength is rated at 8/10, indicating robust financial health.Is EXLS Overvalued or Undervalued?ExlService Holdings Inc EXLS is currently assessed as undervalued, with a current share price of $36.87 positioned significantly below its GF Value™ of $49.53. This results in a considerable margin of safety of 25.6%, suggesting that investors may have an opportunity to acquire shares at a discount relative to their intrinsic value. GF Value™ is GuruFocus' proprietary estimate of a company's fair value derived from analyzing historical trading multiples, past business growth, and future performance projections.
The GF Valuation label designates EXLS as "Modestly Undervalued," which aligns with the current market price being substantially lower than the calculated fair value. While undervaluation presents an attractive opportunity, it is crucial for potential investors to consider the risks associated with market perceptions and recent performance trends, particularly given the year-to-date decline of 13.1% in the stock price.
How Does EXLS's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)23.2x32.6xForward P/E14.2xN/AExlService's current P/E (TTM) of 23.2x is significantly lower than its 5-year median P/E of 32.6x, indicating that the stock is trading at a discount compared to its historical valuation metrics. The forward P/E of 14.2x further supports the notion of undervaluation. This P/E analysis concurs with the GF Value™ verdict, reinforcing the idea that EXLS shares may currently be a bargain for prospective investors.
What Does EXLS's GF Score™ Tell Us?The GF Score™ is a composite measure that evaluates a company's performance across multiple dimensions, indicating how well it stacks up against its peers. EXLS boasts a strong GF Score™ of 96/100, indicating exceptional overall strength, with notable performance in several sub-ranks.
MetricRatingGF Score™96Financial Strength8/10Profitability9/10Growth10/10Valuation8/10Momentum7/10The highest sub-rank is in Growth, rated at 10/10, suggesting strong future potential and consistent business expansion. On the other hand, the Momentum rank of 7/10 indicates a solid performance but with room for improvement. Overall, EXLS's strong financial strength and profitability scores further bolster its appeal, but the momentum aspect is an area to monitor for potential weakness.
What Are Gurus and Insiders Doing with EXLS?Currently, 5 gurus hold positions in EXLS, with 4 of them increasing their stakes while 1 guru has trimmed their position in recent quarters. This indicates a generally positive sentiment among sophisticated investors regarding the company's prospects. However, it is noteworthy that insiders have sold $3.1 million worth of shares over the past 12 months without any buying activity, which could be interpreted as a cautionary signal regarding the company's near-term outlook.
This mixed picture of guru activity suggests that while institutional interest remains strong with additional investments, the insider selling may warrant further scrutiny. Such patterns can often reflect differing perspectives on the company's future trajectory between insiders and external investors.
What This Means for InvestorsIn conclusion, ExlService Holdings Inc EXLS appears to be undervalued based on GF Value™, presenting a potential buying opportunity for investors. The strong GF Score™ and solid financial health further enhance this assessment, while the insider selling should be considered as a caution. For detailed insights, you can visit the ExlService Holdings Inc (EXLS) stock page, as well as explore the GF Value™ page for in-depth analysis.
Frequently Asked QuestionsWhat is EXLS's GF Score™?
EXLS has a GF Score™ of 96/100, indicating a strong overall performance relative to its peers and suggesting it is a robust investment option.
Is EXLS overvalued or undervalued?
EXLS is currently undervalued, priced at $36.87, which is 25.6% below its GF Value™ of $49.53.
What is EXLS's P/E ratio?
EXLS has a P/E (TTM) of 23.2x, which is significantly below its 5-year median P/E of 32.6x, indicating that it is trading at a discount to its historical valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
New agentic AI capabilities compress life and annuities insurance product launch cycles, optimize in-force policy management, and move health plan payment integrity upstream | Source: EXL
NEW YORK, Oct. 08, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced it has integrated agentic AI across core solutions for insurance and healthcare, combining workflow orchestration, enterprise data intelligence and AI-powered automation to modernize operations and deliver better experiences for its clients. As part of its portfolio of integrated AI-led solutions, EXL is embedding AI agents directly into the offerings where its clients already work. This includes reimagining two of EXL’s industry-leading solutions, EXL LifePRO and EXL Payment Integrity, with AI-powered automation to help modernize operations and deliver better outcomes.
EXL LifePRO Agentic Suite™ addresses a central challenge confronting the life insurance industry: slow product launch cycles. Most life insurers still need eight to ten months to bring a new product to market, a constraint that limits how many products a carrier can launch each year and how quickly it can respond to regulatory or competitive changes. According to a 2025 LIMRA and Bain & Company study, approximately 100 million Americans say they need life insurance but haven’t purchased it, yet just 9.4 million policies were sold in 2024. Carriers are largely competing for the same buyers, leaving a large gap in demand unaddressed.
By automating manual, repetitive workflows, EXL LifePRO Agentic Suite compresses the product launch cycle to as few as 16 weeks, leveraging AI agents to ingest product specifications, interpret rules and rates, and propose executable configurations so teams can focus on reviewing and approval rather than build from scratch. The suite also makes conversions and implementation faster and easier, increasing straight-through processing across the board, with gains ranging from 18-60%, while built-in validation runs scenarios across coverage amounts, channels and jurisdictions, with full audit trails from actuarial, risk, and compliance sign-off. EXL clients have already seen approximately 30-40% reductions in configuration and testing efforts using this newly enhanced capability.
EXL Payment Integrity supports an industry-wide evolution toward real-time loss prevention, as health plans shift from reactive post-payment recovery to pre-pay decisioning. EXL’s agentic AI for payment integrity deploys a coordinated set of AI agents, each with a distinct role, to connect clinical, coding, and payment decisions; automates routine investigations; and routes complex cases to human experts. Unlike fragmented point solutions, EXL's coordinated intelligence compounds across every audit and recovery, continuously closing the gap between insight and realized savings. The effect is measurable: auditors handling high-yield clinical reviews are approximately 50% more productive, and health plans running AI across all audit types see approximately 15–20% per member per month savings growth without adding headcount.
“We’re at an inflection point where AI stops being something you add to work and starts being how work gets done,” said Vikas Bhalla, president and head of AI services and operations at EXL. “These solutions reflect years of domain expertise in insurance and healthcare translated into AI that operates inside the workflow, not on top of it. With EXL LifePRO Agentic Suite, we’re giving life insurers the ability to significantly simplify product launches, minimize complexity for conversions and implementations and increase the straight through processes by three times the average rate. With EXL Payment Integrity, we’re helping health plans shift from chasing overpayments to preventing them, at scale and with confidence.”
To learn more about how EXL is reimagining insurance and healthcare with agentic AI, explore the EXL LifePRO Agentic Suite and EXL Payment Integrity with agentic AI, both available now.
Experience EXL LifePRO Agentic Suite in action at EXL's L&A Insurance Conference, October 11–13; register here.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL propels enterprises to go beyond AI ambition to impact by combining the power of data, AI, and deep industry context with trusted execution. Our clients include the world's leading corporations across insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit http://www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, will release financial results for the third quarter ended September 30, 2026, on Tuesday, October 27, 2026, after the market closes. An earnings news release, investor fact sheet and presentation will be published on the company’s investor relations website offering an overview of the financial results.
The company will host a conference call at 10:00 a.m. EDT the following day, Wednesday, October 28, 2026, with Chairman and Chief Executive Officer Rohit Kapoor and Executive Vice President and Chief Financial Officer Maurizio Nicolelli, who will provide insights into the company’s operational and financial results.
To listen to video live webcast or to participate in the call, please register here. A replay of the webcast will be available for approximately one year.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL propels enterprises to go beyond AI ambition to impact by combining the power of data, AI, and deep industry context with trusted execution. Our clients include the world's leading corporations across insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit http://www.exlservice.com.
Contact:
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
ExlService Holdings, Inc. (NASDAQ:EXLS – Get Free Report) was up 5.5% on Thursday. The company traded as high as $36.57 and last traded at $36.2780. 182,497 shares traded hands during trading, a decline of 92% from the average session volume of 2,307,811 shares. The stock had previously closed at $34.38.
Wall Street Analysts Forecast Growth EXLS has been the subject of a number of recent research reports. Robert W. Baird set a $45.00 target price on ExlService and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Needham & Company LLC lifted their price target on shares of ExlService from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of ExlService from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. Finally, Barrington Research set a $43.00 price objective on shares of ExlService in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.50.
View Our Latest Research Report on EXLS
ExlService Stock Performance The business has a 50 day moving average price of $35.48 and a two-hundred day moving average price of $31.35. The company has a market cap of $5.42 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.84. ExlService (NASDAQ:EXLS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $594.76 million for the quarter, compared to analyst estimates of $573.94 million. ExlService had a return on equity of 30.61% and a net margin of 11.17%.ExlService’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. As a group, research analysts expect that ExlService Holdings, Inc. will post 1.82 EPS for the current year.
Insider Activity In related news, insider Vikas Bhalla sold 11,000 shares of ExlService stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $35.38, for a total value of $389,180.00. Following the transaction, the insider directly owned 109,295 shares of the company’s stock, valued at $3,866,857.10. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.66% of the company’s stock.
Institutional Investors Weigh In On ExlService Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of ExlService by 14.6% during the third quarter. Versant Capital Management Inc now owns 2,261 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 288 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of ExlService by 3.2% during the second quarter. QRG Capital Management Inc. now owns 14,604 shares of the business services provider’s stock worth $378,000 after purchasing an additional 447 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of ExlService by 9.5% in the second quarter. Sequoia Financial Advisors LLC now owns 7,791 shares of the business services provider’s stock worth $201,000 after purchasing an additional 676 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of ExlService in the second quarter worth about $512,000. Finally, Squarepoint Ops LLC increased its holdings in ExlService by 85.0% during the 2nd quarter. Squarepoint Ops LLC now owns 201,805 shares of the business services provider’s stock valued at $5,219,000 after purchasing an additional 92,697 shares during the period. 92.92% of the stock is currently owned by institutional investors.
ExlService Company Profile (Get Free Report)
ExlService Holdings, Inc (NASDAQ: EXLS), commonly known as EXL, is a data analytics and digital operations company that helps organizations use data, artificial intelligence and technology to improve business performance. The company combines analytics, digital transformation and business process expertise to support decision-making, streamline operations and manage complex workflows.
EXL provides services and technology solutions across areas including insurance, healthcare, banking and capital markets, retail and consumer goods, utilities, media, travel and transportation.
Further Reading Five stocks we like better than ExlService AST SpaceMobile’s BlueBird Progress Comes With Several Risks Still Unresolved Time to Nibble on MCD Stock After it Enters Oversold Territory? McCormick Stock Trades Cheap, Offers Dividend Growth and Unilever Deal Upside Corning and AT&T’s $3 Billion Fiber Deal Reveals Where AI Spending Goes Next Receive News & Ratings for ExlService Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ExlService and related companies with MarketBeat.com's FREE daily email newsletter.
Approximately 78% of global workforce volunteers in CSR initiatives as Scope 1 and 2 emissions reductions fall 64% from 2019 baseline | Source: EXL
NEW YORK, Sept. 30, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced the publication of its seventh annual Sustainability Report, Embedding Sustainability. The report details EXL’s sustainability progress during 2025, underscoring the company’s commitment to go beyond standard business practices and embed sustainability as a driver of long-term value for clients, employees, communities and shareholders.
EXL’s 2025 Sustainability Report reflects a year of measurable progress against the company’s baseline commitments, the expansion of community and education initiatives, and the deepening integration of responsible AI and data governance principles.
“At EXL, sustainability is not a side initiative; it is central to how we build a stronger, more resilient business,” said Ajay Ayyappan, executive vice president and general counsel, EXL. “Our Sustainability Report reflects the belief that has guided EXL from the beginning: there is always a better way. We go beyond to make it happen. This year’s report demonstrates that mindset in action, from industry-leading employee participation in volunteering and giving to meaningful progress in reducing greenhouse gas emissions against our 2019 baseline.”
In 2025, EXL advanced across every dimension of its sustainability agenda, deepening emissions reductions against the 2019 baseline, scaling industry-leading employee participation in volunteering and community investment, and maturing its Responsible and Secure AI program.
Key highlights include:
∼78% of EXL’s global workforce participated in volunteering and giving — an industry-leading level of engagement — contributing nearly 100,000 volunteer hours benefiting more than 139,000 individuals worldwide∼64% decrease in combined Scope 1 and 2 GHG emissions since the 2019 baseline, alongside a ∼19% decrease in Scope 3 emissions∼54% renewable energy across EXL’s global energy portfolio, up from 44% in 2024, with ∼74% of operational space in green or LEED-certified facilitiesAchieved ISO 42001 certification for AI management systems EXL prepared its 2025 Sustainability Report in accordance with the Global Reporting Initiative Standards and the Sustainability Accounting Standards Board Software and IT Services Standard, with climate-related disclosures aligned to the recommendations of the Task Force on Climate-related Financial Disclosures. EXL’s reporting also maps to the United Nations Sustainable Development Goals and reflects the company’s commitment to the United Nations Global Compact.
The full report is available at www.exlservice.com/about/sustainability.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL propels enterprises to go beyond AI ambition to impact by combining the power of data, AI, and deep industry context with trusted execution. Our clients include the world's leading corporations across insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit http://www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Key Takeaways INOD's first-half revenues jumped 56.1%, with net income nearly doubling to $29.3 million.EXLS offers greater scale and diversification, with first-half revenues up 14.7% to about $1.17 billion.INOD trades at 43.31X forward earnings versus 13.71X for its rival, highlighting a wide valuation gap. Innodata Inc. (INOD - Free Report) and ExlService Holdings, Inc. (EXLS - Free Report) are benefiting from rising enterprise and technology spending on artificial intelligence, data engineering and AI-enabled services. Innodata has greater exposure to frontier AI developers and generative AI model development, while ExlService combines data and AI capabilities with deep domain expertise across insurance, healthcare, banking and other enterprise markets.
Both companies delivered strong growth in the first half of 2026, supported by rising AI adoption. However, Innodata is expanding at a much faster pace, while ExlService offers significantly greater scale, diversification and a lower valuation.
Let's dive deep and closely compare the fundamentals of the two stocks to determine which one is a better investment now.
The Case for Innodata StockInnodata's growth profile remains its strongest attraction. First-half 2026 revenues surged 56.1% year over year to $182.2 million from $116.7 million. Net income almost doubled to $29.3 million from $15 million, while earnings per share (EPS) increased to 86 cents from 43 cents. Adjusted EBITDA climbed to $50.3 million from $25.9 million, indicating substantial operating leverage alongside rapid revenue expansion.
The company's opportunity is increasingly tied to higher-value AI development work spanning pre-training, post-training, model evaluation and benchmarking. Innodata has also established an early presence in agentic reinforcement learning, securing programs involving personalization of long-horizon agents and reinforcement-learning environments for computer-use tasks. Management believes its research capabilities can help deepen relationships with leading AI labs while opening opportunities in enterprise and federal markets.
Innodata is also broadening its customer base. Its second-largest Big Tech customer scaled rapidly during the first half, while the company added another fast-growing frontier AI lab. Nonetheless, customer concentration remains a meaningful risk, as a few large technology companies still account for a sizable portion of revenues. Project timing and changing AI-development priorities can therefore create volatility.
Management continues to expect at least 40% revenue growth in 2026, with several potential large programs not incorporated into the outlook. Innodata faces competition for data engineering and AI-development spending from larger technology-services companies such as Genpact (G - Free Report) .
The Case for ExlService StockExlService offers a larger and more diversified AI-services platform. First-half 2026 revenues increased 14.7% year over year to roughly $1.17 billion. Adjusted operating margin expanded 20 basis points to 20.1%, while adjusted EPS advanced 21.3% to $1.17. The company also generated $90 million of operating cash flow during the period, underscoring its established profitability and cash-generating capacity.
Growth is increasingly being driven by data and AI services. Data and AI-led revenues represented 61% of second-quarter revenues and increased 30.7% in constant currency, reflecting continued migration toward higher-value AI work. ExlService is helping enterprises deploy AI in complex workflows across insurance, healthcare, banking and other regulated industries, where its industry knowledge provides an important differentiator.
Healthcare and Life Sciences, Insurance and International Growth Markets all recorded double-digit growth during the first half. EXL is also expanding its AI ecosystem through relationships with OpenAI, Anthropic, Databricks, Snowflake and NVIDIA. The iMerit acquisition is intended to deepen EXL's foundation-model expertise and strengthen its position in enterprise AI.
The principal drawback is that EXLS' underlying growth rate remains well below Innodata's. Its Digital Operations business is also undergoing a transition as more work shifts toward AI-led solutions. Integration of iMerit adds another execution consideration. EXL competes with global IT and data-services providers such as Cognizant Technology Solutions (CTSH - Free Report) .
Share Momentum Favors InnodataNeither stock has outperformed over the full one-year period. Shares of both INOD and EXLS have plunged 13.3% and 21.4%, respectively, against the 16.9% gain for the Zacks S&P 500 Composite.
INOD vs. EXLS Price Performance (1-Year)
Image Source: Zacks Investment Research
The six-month comparison paints a different picture. INOD stock has surged 93.8%, sharply outperforming EXLS' 13.2% gain and the S&P 500's 22.1% increase. This reflects stronger enthusiasm around Innodata's AI growth trajectory, although the sharp appreciation also raises expectations for continued execution.
INOD vs. EXLS Price Performance (6-Month)
Image Source: Zacks Investment Research
EXLS Offers a Much Cheaper Entry PointValuation clearly favors ExlService. On a forward 12-month P/E basis, INOD trades at 43.31X compared with only 13.71X for EXLS.
INOD vs. EXLS Valuation (P/E F12M)
Image Source: Zacks Investment Research
Innodata's premium reflects its substantially faster expected growth but leaves less room for execution disappointments. EXLS' lower multiple provides a greater valuation cushion while still offering exposure to accelerating enterprise AI adoption.
Estimate Revisions Point UpwardInnodata's earnings outlook has strengthened. Over the past 60 days, the Zacks Consensus Estimate for 2026 EPS increased to $1.18, while the 2027 estimate edged up to $1.67, as shown below. The consensus estimate projects 42.1% revenue growth in 2026 and 28.1% growth in 2027, with EPS expected to rise 28.3% and 41.7%, respectively.
INOD EPS Estimate Revision Trend
Image Source: Zacks Investment Research
For EXLS, the 2026 EPS estimate increased to $2.29 and the 2027 estimate rose to $2.60, as shown below. Revenues are expected to grow 15.5% in 2026 and 12.1% in 2027, while 2027 EPS is projected to increase 13.6%.
EXLS EPS Estimate Revision Trend
Image Source: Zacks Investment Research
Which Stock Has More Upside?Both stocks currently carry a Zacks Rank #3 (Hold). INOD appears to offer greater upside potential, although it comes with considerably higher valuation and customer-concentration risk. Its 56% first-half revenue growth, nearly doubled adjusted EBITDA, expanding frontier-AI relationships and stronger long-term consensus growth provide the more aggressive growth setup. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
EXLS presents a more balanced profile, supported by diversified industry exposure, consistent profitability, strong enterprise AI positioning and a much cheaper valuation. However, for investors focused primarily on growth potential, Innodata's faster operating momentum and stronger expected revenue and earnings expansion give INOD the edge over EXLS at present.
Integrated Wealth Concepts LLC cut its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 59.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,755 shares of the business services provider’s stock after selling 15,527 shares during the period. Integrated Wealth Concepts LLC’s holdings in ExlService were worth $278,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of ExlService by 183.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,353 shares of the business services provider’s stock worth $57,000 after purchasing an additional 875 shares in the last quarter. Leonteq Securities AG acquired a new position in ExlService in the fourth quarter valued at about $59,000. Transamerica Financial Advisors LLC acquired a new position in ExlService in the second quarter valued at about $60,000. Cache Advisors LLC bought a new stake in shares of ExlService in the first quarter worth about $69,000. Finally, Westpac Banking Corp bought a new stake in shares of ExlService in the first quarter worth about $71,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Several equities analysts have recently weighed in on the company. Wall Street Zen cut ExlService from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Needham & Company LLC upped their target price on shares of ExlService from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded ExlService from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, September 2nd. TD Cowen reaffirmed a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of ExlService in a research report on Thursday, August 27th. Finally, Robert W. Baird set a $45.00 price objective on ExlService and gave the stock an “outperform” rating in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.
View Our Latest Analysis on EXLS ExlService Trading Up 0.9% NASDAQ EXLS opened at $35.16 on Friday. The stock has a 50 day moving average of $34.57 and a 200-day moving average of $31.17. ExlService Holdings, Inc. has a 12 month low of $24.85 and a 12 month high of $44.32. The company has a market cap of $5.33 billion, a PE ratio of 22.11, a PEG ratio of 1.41 and a beta of 0.81.
ExlService (NASDAQ:EXLS – Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $594.76 million for the quarter, compared to analysts’ expectations of $573.94 million. ExlService had a net margin of 11.17% and a return on equity of 30.61%. ExlService’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. As a group, sell-side analysts predict that ExlService Holdings, Inc. will post 1.82 EPS for the current fiscal year.
Insider Buying and Selling at ExlService In related news, insider Vikas Bhalla sold 11,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $34.99, for a total value of $384,890.00. Following the sale, the insider owned 130,295 shares in the company, valued at approximately $4,559,022.05. This represents a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.66% of the company’s stock.
ExlService Profile (Free Report)
ExlService Holdings, Inc (NASDAQ: EXLS), operating as EXL, is a global data analytics and digital operations company. It helps businesses use data, artificial intelligence and automation to improve decision-making, streamline processes and enhance customer experiences.
EXL provides services including advanced analytics, artificial intelligence, digital transformation, business process management, finance and accounting, customer care, claims administration, underwriting support and other industry-specific operations.
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ExlService Holdings (EXLS - Free Report) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for ExlService Holdings is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For ExlService Holdings, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for ExlService HoldingsThis provider of outsourcing services is expected to earn $2.29 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for ExlService Holdings. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.1%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of ExlService Holdings to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
ExlService Holdings, Inc. (NASDAQ:EXLS – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors bought 10,011 put options on the company. This represents an increase of approximately 2,460% compared to the average volume of 391 put options.
Insider Activity at ExlService In other news, insider Vikas Bhalla sold 11,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $34.99, for a total value of $384,890.00. Following the sale, the insider directly owned 130,295 shares of the company’s stock, valued at $4,559,022.05. This represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.66% of the company’s stock.
Institutional Inflows and Outflows Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in shares of ExlService by 183.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,353 shares of the business services provider’s stock worth $57,000 after buying an additional 875 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of ExlService during the fourth quarter valued at approximately $59,000. Cache Advisors LLC bought a new stake in shares of ExlService during the first quarter valued at approximately $69,000. Westpac Banking Corp purchased a new position in ExlService in the 1st quarter worth approximately $71,000. Finally, Transamerica Financial Advisors LLC purchased a new position in ExlService in the 2nd quarter worth approximately $60,000. 92.92% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets EXLS has been the topic of several research reports. Wall Street Zen lowered shares of ExlService from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. TD Cowen restated a “buy” rating and issued a $45.00 price objective (up from $43.00) on shares of ExlService in a report on Thursday, August 27th. Needham & Company LLC raised their target price on shares of ExlService from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barrington Research set a $43.00 target price on shares of ExlService in a report on Thursday, July 30th. Finally, Weiss Ratings raised ExlService from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, ExlService presently has an average rating of “Moderate Buy” and an average target price of $44.50. Check Out Our Latest Report on EXLS
ExlService Price Performance Shares of NASDAQ:EXLS opened at $35.85 on Thursday. ExlService has a 1-year low of $24.85 and a 1-year high of $44.32. The business has a fifty day moving average price of $33.69 and a 200-day moving average price of $31.03. The company has a market capitalization of $5.44 billion, a PE ratio of 22.55, a PEG ratio of 1.46 and a beta of 0.81.
ExlService (NASDAQ:EXLS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The firm had revenue of $594.76 million during the quarter, compared to analyst estimates of $573.94 million. ExlService had a return on equity of 30.61% and a net margin of 11.17%.ExlService’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. On average, sell-side analysts anticipate that ExlService will post 1.82 earnings per share for the current fiscal year.
About ExlService (Get Free Report)
ExlService Holdings, Inc (NASDAQ: EXLS), operating as EXL, is a global data analytics and digital operations company. It helps businesses use data, artificial intelligence and automation to improve decision-making, streamline processes and enhance customer experiences.
EXL provides services including advanced analytics, artificial intelligence, digital transformation, business process management, finance and accounting, customer care, claims administration, underwriting support and other industry-specific operations.
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NEW YORK, Sept. 09, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, marked its 20th year as a publicly listed company with the launch of its new brand: ‘Go Beyond,’ reflecting the differentiated position EXL has built at the intersection of data, AI, industry context and enterprise execution. In celebration of the milestone, EXL leadership rang the opening bell at Nasdaq, ushering in a new era of innovation and value creation for its clients.
“‘Go Beyond.’ is more than a tagline, it’s the standard we hold ourselves to every day,” said Rohit Kapoor, chairman and chief executive officer, EXL. “Our clients come to us to fundamentally reimagine how their enterprises operate. With AI transforming every industry, we’ve built something rare; a company with domain depth to know what questions to ask and data and AI capabilities to answer them at scale.”
EXL's brand refresh reflects the company's purpose “we find a better way” and its commitment to continuous reinvention and growth, underscoring a history of anticipating market shifts and leading industry transformation. From its early move into data and analytics in 2006 to its August 2026 acquisition of iMerit, which expanded its capabilities in advanced AI model training and frontier AI development, EXL has consistently pushed beyond traditional industry boundaries to deliver innovation and create new sources of value for clients. Today, more than 60% of the company’s revenues are data and AI-led, and EXL continues to achieve market-leading growth.
“For 27 years, EXL has been built on a simple idea: We find a better way,” said Shirley Macbeth, chief marketing officer of EXL. “‘Go Beyond.’ is the brand that captures that. It’s an invitation to our clients and employees to push the boundaries of what’s possible and a reflection of the company EXL has become, a global data and AI leader that combines deep domain and context expertise with trusted execution to drive outcomes that matter.”
Learn more about EXL’s transformation and the ‘Go Beyond.’ brand in action.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL propels enterprises to go beyond AI ambition to impact by combining the power of data, AI, and deep industry context with trusted execution. Our clients include the world's leading corporations across insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit http://www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/27a38828-77ce-49c2-8ae9-906d9c99ee5b
https://www.globenewswire.com/NewsRoom/AttachmentNg/6bd05140-47fd-424e-a1d8-26d46f7e8427
A video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5cee85cb-f479-45db-b4b3-d1a14d6d8366
Introducing EXL’s new brand for an AI-driven era: Go Beyond. EXL unveils 'Go Beyond.’ brand launch, reflecting a 27-year track record of breakthrough transformat... EXL leadership rang the opening bell at Nasdaq EXL marked its 20th year as a publicly listed company with the launch of its new brand: ‘Go Beyond,’... Everyone adding AI. Few are creating advantage | Go Beyond with EXL Everyone is adding AI, but bolting generic models onto existing processes doesn’t add real value. To...
Jupiter Topco LLC bought a new stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 68,425 shares of the business services provider’s stock, valued at approximately $1,769,000.
A number of other institutional investors have also recently added to or reduced their stakes in EXLS. BlackRock Inc. acquired a new position in ExlService during the second quarter worth $488,370,000. AQR Capital Management LLC grew its position in shares of ExlService by 109.7% in 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 purchasing an additional 2,154,652 shares during the period. Amundi purchased a new stake in shares of ExlService during the third quarter worth about $67,862,000. Jane Street Group LLC raised its position in shares of ExlService by 534.2% during the 2nd quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider’s stock worth $59,318,000 after purchasing an additional 1,141,008 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in ExlService in the 2nd quarter valued at about $25,214,000. Institutional investors and hedge funds own 92.92% of the company’s stock.
ExlService Price Performance Shares of ExlService stock opened at $37.32 on Friday. The stock’s 50 day simple moving average is $32.06 and its 200-day simple moving average is $30.66. The stock has a market cap of $5.66 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.48 and a beta of 0.81. ExlService Holdings, Inc. has a 1-year low of $24.85 and a 1-year high of $45.08.
ExlService (NASDAQ:EXLS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. ExlService had a return on equity of 30.61% and a net margin of 11.17%.The firm had revenue of $594.76 million during the quarter, compared to analysts’ expectations of $573.94 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. As a group, research analysts expect that ExlService Holdings, Inc. will post 1.82 EPS for the current fiscal year. Insider Transactions at ExlService In other ExlService news, insider Vikas Bhalla sold 11,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $34.99, for a total value of $384,890.00. Following the completion of the sale, the insider directly owned 130,295 shares of the company’s stock, valued at $4,559,022.05. This trade represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades Several equities research analysts have commented on EXLS shares. Robert W. Baird set a $45.00 price objective on ExlService and gave the stock an “outperform” rating in a research note on Thursday, July 30th. TD Cowen reaffirmed a “buy” rating and issued a $45.00 price target (up from $43.00) on shares of ExlService in a research note on Thursday, August 27th. Weiss Ratings raised ExlService from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Barrington Research set a $43.00 price objective on ExlService in a report on Thursday, July 30th. Finally, Needham & Company LLC lifted their target price on shares of ExlService from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.50.
Get Our Latest Report on EXLS
About ExlService (Free Report)
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.
See Also Five stocks we like better than ExlService The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now Dropping the Dough: Yum! Brands Strategically Trims the Fat These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern Want to see what other hedge funds are holding EXLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report).
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NEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, announced today that, effective October 26, 2026, Vivek Jetley, president and head of Insurance, Healthcare and Life Sciences is departing EXL to assume the role of Chief Executive Officer of Hexaware Technologies Limited. He will continue to serve in his current role and assist with the transition of his responsibilities over the coming months.
"Vivek has been a great leader and trusted partner to me and our leadership team," said Rohit Kapoor, chairman and chief executive officer of EXL. "Over nearly 20 years, he has been an instrumental part of EXL's evolution — from building our analytics capability to leading our insurance and healthcare businesses. We are grateful for his many contributions and wish him success in this next chapter. EXL is fortunate to have a fantastic leadership team and a deep bench of talent, and we will not miss a beat in executing on our data and AI strategy."
"It has been a privilege to be part of the EXL family and to work alongside such talented colleagues," said Mr. Jetley. "I am incredibly proud of all that we have accomplished together, and I look forward to supporting the Company in the coming months to ensure a smooth transition. I will always be rooting for EXL’s continued success."
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include recruitment and retention of leadership, our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
Canada Pension Plan Investment Board purchased a new position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 55,400 shares of the business services provider’s stock, valued at approximately $1,433,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in ExlService during the 2nd quarter valued at about $488,370,000. AQR Capital Management LLC lifted its holdings in shares of ExlService by 109.7% in 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 purchasing an additional 2,154,652 shares in the last quarter. Amundi purchased a new stake in shares of ExlService in the third quarter valued at about $67,862,000. Jane Street Group LLC grew its position in shares of ExlService by 534.2% in the second quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider’s stock valued at $59,318,000 after purchasing an additional 1,141,008 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ExlService in the second quarter valued at approximately $25,214,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling In related news, insider Vikas Bhalla sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.22, for a total transaction of $362,640.00. Following the completion of the transaction, the insider owned 153,295 shares of the company’s stock, valued at approximately $4,632,574.90. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.66% of the company’s stock.
Analyst Ratings Changes EXLS has been the subject of a number of recent research reports. Barrington Research set a $43.00 price objective on shares of ExlService in a research note on Thursday, July 30th. Needham & Company LLC upped their target price on ExlService from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded ExlService from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. TD Cowen reissued a “buy” rating and set a $45.00 price target (up from $43.00) on shares of ExlService in a research report on Thursday. Finally, Robert W. Baird set a $45.00 price target on ExlService and gave the stock an “outperform” rating in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, ExlService presently has a consensus rating of “Moderate Buy” and an average target price of $44.50. Get Our Latest Stock Report on ExlService
ExlService Stock Performance Shares of EXLS opened at $38.08 on Tuesday. ExlService Holdings, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $45.08. The company has a market capitalization of $5.77 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The stock has a fifty day moving average of $31.38 and a two-hundred day moving average of $30.50.
ExlService (NASDAQ:EXLS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. The company had revenue of $594.76 million during the quarter, compared to analysts’ expectations of $573.94 million. ExlService had a return on equity of 30.61% and a net margin of 11.17%.The firm’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. As a group, equities research analysts forecast that ExlService Holdings, Inc. will post 1.82 earnings per share for the current fiscal year.
About ExlService (Free Report)
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.
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BlackRock Inc. acquired a new position in ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,885,133 shares of the business services provider’s stock, valued at approximately $488,370,000. BlackRock Inc. owned about 12.46% of ExlService at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Transamerica Financial Advisors LLC raised its position in ExlService by 285.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 678 shares of the business services provider’s stock worth $29,000 after acquiring an additional 502 shares during the period. Hantz Financial Services Inc. increased its stake in shares of ExlService by 183.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,353 shares of the business services provider’s stock worth $57,000 after purchasing an additional 875 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of ExlService during the 4th quarter worth approximately $59,000. CIBC Private Wealth Group LLC raised its holdings in shares of ExlService by 63.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,583 shares of the business services provider’s stock worth $70,000 after purchasing an additional 614 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of ExlService in the 3rd quarter worth approximately $72,000. Institutional investors own 92.92% of the company’s stock.
ExlService Price Performance Shares of EXLS stock opened at $37.66 on Tuesday. The company’s fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $30.28. ExlService Holdings, Inc. has a 1 year low of $24.85 and a 1 year high of $45.08. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.51 and a beta of 0.80.
ExlService (NASDAQ:EXLS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. ExlService had a return on equity of 30.61% and a net margin of 11.17%.The company had revenue of $594.76 million during the quarter, compared to analysts’ expectations of $573.94 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. ExlService has set its FY 2026 guidance at 2.250-2.290 EPS. Equities research analysts anticipate that ExlService Holdings, Inc. will post 1.82 EPS for the current year. Wall Street Analysts Forecast Growth Several equities analysts have weighed in on the company. Barrington Research set a $43.00 price objective on ExlService in a report on Thursday, July 30th. Weiss Ratings upgraded ExlService from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Needham & Company LLC upped their price target on ExlService from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. TD Cowen reiterated a “buy” rating and set a $39.00 price target (down from $45.00) on shares of ExlService in a research note on Thursday, July 9th. Finally, Robert W. Baird set a $45.00 price objective on ExlService and gave the stock an “outperform” rating in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.50.
View Our Latest Research Report on ExlService
Insiders Place Their Bets In other news, insider Vikas Bhalla sold 12,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.22, for a total transaction of $362,640.00. Following the sale, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is owned by insiders.
ExlService Company Profile (Free Report)
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.
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NEW YORK, Aug. 20, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced it has been recognized as a Leader in both the Healthcare AI Strategy and Advisory Services and Healthcare AI Development and Delivery Services quadrants of the ISG Provider Lens® AI Services in Healthcare Global 2026 report. The dual recognition reflects EXL’s ability to help healthcare organizations move beyond AI experimentation and into enterprise-scale transformation with measurable business outcomes.
EXL earned this recognition in both categories for its ability to embed AI directly into healthcare workflows. Rather than treating AI as a standalone capability, EXL’s solutions integrate the technology across claims, care coordination and core payer functions, all anchored to measurable ROI. The report specifically cited EXL's agentic architecture for its ability to deploy transaction-capable systems that connect organizational policies, codes and patient data to reduce patient risk, monitor costs and eliminate biases—all within specific governance frameworks.
“As AI continues to become entrenched in the healthcare industry, providers and payers alike are grappling with the best ways to use it to unlock the most efficient processes and arrive at the best health outcomes for their patients,” said Vivek Jetley, EXL president and head of healthcare, life sciences and insurance. “At EXL, we are proud to continue to help our clients navigate this evolving landscape and find new innovative ways to thrive.”
“EXL embeds AI directly into healthcare workflows, delivering measurable operational impact through a strong combination of domain expertise, data capabilities and execution-led transformation,” said Rohan Sinha, ISG Provider Lens. “This is the key to translating AI from concept to operational reality in healthcare.”
ISG Provider Lens is a practitioner-led service provider comparison, powered by ISG’s advisory experience and data-driven research. ISG’s research reports provide independent vendor evaluations and enterprise buying behavior segmentation. Provider positioning is based on neutral and independent research, such as quantitative data that includes provider surveys, product testing and customer interviews.
Read the report to see how EXL compares to its competition. For more information about EXL’s solutions for the healthcare industry, click here.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
ExlService Holdings (EXLS - Free Report) closed the last trading session at $35.47, gaining 29.7% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $44.38 indicates a 25.1% upside potential.
The mean estimate comprises eight short-term price targets with a standard deviation of $2.72. While the lowest estimate of $39.00 indicates a 10% increase from the current price level, the most optimistic analyst expects the stock to surge 35.3% to reach $48.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for EXLS, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why EXLS Could Witness a Solid UpsideThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 1%, as six estimates have moved higher compared to no negative revision.
Moreover, EXLS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much EXLS could gain, the direction of price movement it implies does appear to be a good guide.
NEW YORK, Aug. 18, 2026 (GLOBE NEWSWIRE) -- EXL (NASDAQ: EXLS), a global data and AI company, announced the closing of a new credit facility with PNC Bank, N.A., as Administrative Agent, and a syndicate of lenders that allows for borrowings of up to $1 billion. Bank of America, N.A., JPMorgan Chase Bank, N.A., and TD Bank, N.A. acted as joint lead arrangers on this transaction.
The facility increases EXL’s borrowing capacity from the previous limit of $600 million and provides greater covenant flexibility to support the company’s business strategy. The five-year senior secured credit agreement includes a $400 million term loan, permits revolver borrowings of up to $600 million, and has an accordion feature that would allow the facility to expand equal to the greater of $470 million or 100% of EBITDA for the trailing four quarters. The term of the new agreement will expire on August 18, 2031.
“This deal reflects the confidence our banking partners have in EXL’s financial strength and the long-term trajectory of our business,” said Maurizio Nicolelli, chief financial officer of EXL. “We have consistently prioritized a strong balance sheet, and this expanded debt capacity gives us the flexibility to extend our competitive advantage through targeted mergers and acquisitions while continuing to return capital to our shareholders under our $500 million share repurchase authorization. The closing of this facility is a clear demonstration of the focused execution against our capital allocation strategy.”
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs or service our indebtedness, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
NEW YORK, Aug. 18, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced it has been Certified™ by Great Place To Work® in the U.S and Colombia. The prestigious award is based entirely on what current employees say about their experience working at EXL. This year, 81% of employees said it’s a great place to work, compared to 57% at a typical company.
Great Place To Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
“Earning Great Place To Work Certification is a reflection of something we work hard at every day, building a culture where our people feel seen, supported and empowered to do their best work,” said Pamela Harrison, executive vice president and chief human resources officer at EXL. “This is a powerful validation of our people-first, AI-native culture. It reflects the trust our colleagues place in the organization, our continued investment in their growth and well-being, and our commitment to building an inclusive, high-performance workplace where innovation and collaboration thrive.”
“Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,” says Sarah Lewis-Kulin, the vice president of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. “By successfully earning this recognition, it is evident that EXL stands out as one of the top companies to work for, providing a great workplace environment for its employees.”
Employees also recognized EXL’s continued focus on what makes a workplace truly great, with 89% saying they can take time off when needed and feel welcomed when joining the company, 88% citing honest and ethical management practices, 86% saying they can be themselves at work and 85% affirming that management is competent at running the business.
According to Great Place To Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits and have a fair chance at promotion.
View EXL's complete profile on greatplacetowork.com.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
About Great Place to Work Certification™
Great Place To Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.
About Great Place To Work®
As the global authority on workplace culture, Great Place To Work® brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model helps companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.
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This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
ExlService Holdings (EXLS - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this provider of outsourcing services a great growth pick right now.
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for ExlService Holdings is 18.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17.5% this year, crushing the industry average, which calls for EPS growth of 8.1%.
Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.
Right now, year-over-year cash flow growth for ExlService Holdings is 25.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 11.5%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.8% over the past 3-5 years versus the industry average of 8%.
Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for ExlService Holdings. The Zacks Consensus Estimate for the current year has surged 1% over the past month.
Bottom LineExlService Holdings has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions ExlService Holdings well for outperformance, so growth investors may want to bet on it.
Bank of America Corp DE increased its position in shares of ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 122.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,506,357 shares of the business services provider’s stock after purchasing an additional 828,520 shares during the period. Bank of America Corp DE owned 0.99% of ExlService worth $45,869,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXLS. JPMorgan Chase & Co. boosted its holdings 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 valued at $251,576,000 after buying an additional 514,911 shares in the last quarter. AQR Capital Management LLC raised its stake in ExlService by 109.7% during the 4th 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 during the last quarter. Handelsbanken Fonder AB raised its stake in shares of ExlService by 10.7% during the fourth quarter. Handelsbanken Fonder AB now owns 3,781,036 shares of the business services provider’s stock worth $160,467,000 after purchasing an additional 364,146 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ExlService by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,902,412 shares of the business services provider’s stock worth $123,181,000 after buying an additional 32,734 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in ExlService by 71.7% in the third quarter. Squarepoint Ops LLC now owns 1,689,373 shares of the business services provider’s stock valued at $74,383,000 after purchasing an additional 705,509 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 $34.33 on Thursday. ExlService Holdings, Inc. has a 1-year low of $24.85 and a 1-year high of $45.08. The business has a 50-day moving average of $29.14 and a 200-day moving average of $30.46. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 1.40 and a beta of 0.80.
Insider Buying and Selling at ExlService In related news, EVP Ajay Ayyappan sold 5,093 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total transaction of $148,257.23. Following the completion of the sale, the executive vice president directly owned 48,994 shares of the company’s stock, valued at approximately $1,426,215.34. This trade represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikas Bhalla sold 12,000 shares of ExlService stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.22, for a total transaction of $362,640.00. Following the sale, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,093 shares of company stock valued at $895,787 over the last 90 days. Insiders own 3.66% of the company’s stock.
Analysts Set New Price Targets A number of analysts recently commented on the stock. Robert W. Baird set a $45.00 price objective on shares of ExlService and gave the stock an “outperform” rating in a report on Thursday, July 30th. Barrington Research set a $43.00 price objective on ExlService in a research note on Thursday, July 30th. Needham & Company LLC lifted their price objective on ExlService from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of ExlService from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of ExlService from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.
View Our Latest Report on EXLS
About ExlService (Free Report)
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.
Recommended Stories Five stocks we like better than ExlService GE Vernova’s AI Power Boom Faces a Profit Test Cardinal Health Earnings: Can Perfection Get Priced In Twice? Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Legacy Jet Builders Stall While Embraer Accelerates to New Highs Want to see what other hedge funds are holding EXLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report).
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NEW YORK, Aug. 12, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced it has been recognized as a Leader across multiple quadrants in the ISG Provider Lens® Insurance Services 2026 reports, including Life and Retirement (L&R), Property and Casualty (P&C) services. This marks the fourth consecutive year EXL is a Leader in ISG's insurance services research.
Shares of ExlService Holdings (EXLS - Free Report) have gained 25.6% over the past four weeks to close the last trading session at $33.93, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $43.5 indicates a potential upside of 28.2%.
The average comprises eight short-term price targets ranging from a low of $32.00 to a high of $48.00, with a standard deviation of $4.93. While the lowest estimate indicates a decline of 5.7% from the current price level, the most optimistic estimate points to a 41.5% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
But, for EXLS, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why EXLS Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current year, two estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 0.3%.
Moreover, EXLS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much EXLS could gain, the direction of price movement it implies does appear to be a good guide.
iMerit founder and CEO Radha Ramaswami Basu joins EXL executive committee August 03, 2026 08:03 ET | Source: EXL
NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, announced it has completed the acquisition of iMerit, a recognized leader in AI model training, evaluation and reinforcement learning. Together, EXL’s enterprise data and AI leadership and iMerit’s capabilities and foundation model relationships will help clients build AI systems that are trusted, accountable and built to perform in the enterprise.
The completion of the acquisition establishes an end-to-end AI platform for enterprises, uniting EXL’s deep data, context and AI expertise with iMerit's technology, expert-led solutions and generative AI experience helping them accelerate the transition from pilot to production-scale AI.
As part of the transaction, iMerit founder and CEO Radha Ramaswami Basu joins EXL as Executive Vice President, Head of iMerit, and becomes a member of the company’s executive committee.
“This acquisition is a transformational pivot for EXL, deepening our vertically specialized AI capabilities and expanding our reach into high-growth AI technology sectors,” said Rohit Kapoor, chairman and chief executive officer of EXL. “By combining iMerit’s capabilities with EXL’s domain expertise and AI platforms, we are well positioned to help clients build, fine-tune and operationalize AI that performs reliably in production. This is especially critical in regulated industries where domain knowledge, context and compliance are non-negotiable. I am delighted to welcome Radha to EXL's executive committee; her vision, leadership, and deep expertise at the intersection of human intelligence and AI will help shape the next chapter of EXL's growth and innovation.”
“The next generation of enterprise AI will be defined not by the models organizations choose, but by how effectively they can deploy them in real-world business environments,” said Basu. “What excites me most about joining EXL is the opportunity to combine iMerit’s pioneering work in AI data, evaluation and human intelligence with EXL’s extraordinary depth in data, AI and enterprise transformation. Together, we can help clients bridge the gap between innovation and execution, turning AI potential into measurable business results. I am energized by what lies ahead and honored to join EXL’s executive committee as we help clients unlock the full value in enterprise AI integration.”
With iMerit now part of EXL, the combination extends the data and AI-led strategy EXL has been executing on for several years.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
About iMerit
iMerit is a leader in AI fine tuning, evaluation, and reinforcement learning. iMerit helps frontier AI labs and enterprises build more accurate, reliable, and domain-aware models. iMerit delivers high-quality data across industries such as high-tech, autonomous mobility, healthcare AI, and robotics. Scholars, its global network of specialists, includes physicians, scientists, engineers, linguists, and other subject matter experts who power high-quality data creation, reasoning evaluation, model alignment, and human feedback workflows for next-generation AI systems. Its proprietary Ango Hub platform allows customers and experts to collaborate on complex multimodal data to generate highly curated and validated training artifacts for high-stakes models. Learn more at imerit.ai.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Contacts:
Investor Relations
Andrew Thut
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Dimensional Fund Advisors LP reduced its stake in ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 1.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,852,647 shares of the business services provider’s stock after selling 49,765 shares during the quarter. Dimensional Fund Advisors LP owned 1.87% of ExlService worth $86,866,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC boosted its stake in ExlService by 285.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 678 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 502 shares during the last quarter. Private Trust Co. NA increased its stake in shares of ExlService by 56.2% during the 4th quarter. Private Trust Co. NA now owns 717 shares of the business services provider’s stock worth $30,000 after purchasing an additional 258 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of ExlService during the 4th quarter worth approximately $33,000. Hantz Financial Services Inc. raised its holdings in shares of ExlService by 183.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,353 shares of the business services provider’s stock worth $57,000 after purchasing an additional 875 shares during the period. Finally, Leonteq Securities AG purchased a new position in ExlService in the fourth quarter valued at approximately $59,000. Institutional investors own 92.92% of the company’s stock.
Analyst Ratings Changes Several brokerages have issued reports on EXLS. Barrington Research set a $43.00 target price on ExlService in a research note on Thursday. JPMorgan Chase & Co. increased their price target on ExlService from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Robert W. Baird set a $45.00 price objective on ExlService and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC boosted their price objective on ExlService from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, TD Cowen reiterated a “buy” rating and set a $39.00 target price (down from $45.00) on shares of ExlService in a research report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ExlService presently has a consensus rating of “Moderate Buy” and an average price target of $43.50.
Read Our Latest Stock Report on ExlService
ExlService Stock Performance Shares of EXLS opened at $34.36 on Friday. ExlService Holdings, Inc. has a 52-week low of $24.85 and a 52-week high of $45.08. The stock’s 50-day simple moving average is $28.23 and its 200 day simple moving average is $30.96. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84.
ExlService (NASDAQ:EXLS – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. ExlService had a return on equity of 30.61% and a net margin of 11.17%.The firm had revenue of $570.35 million for the quarter, compared to analysts’ expectations of $557.67 million. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that ExlService Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.
More ExlService News Here are the key news stories impacting ExlService this week:
Positive Sentiment: Raised 2026 outlook: ExlService projects 2026 revenue of approximately $2.39 billion to $2.415 billion, reflecting confidence in continued demand and the expected contribution from iMerit. Management also raised its earnings outlook. ExlService projects 2026 revenue of $2.39B-$2.415B following iMerit deal and raised EPS outlook Positive Sentiment: Solid second-quarter performance: Revenue reached about $594.8 million, up from the prior year, and results were characterized as strong enough to support an optimistic outlook for the remainder of 2026. The earnings presentation and call highlighted the company’s growth trajectory and operating momentum. ExlService Holdings 2026 Q2 Results Earnings Call Presentation Positive Sentiment: Analyst support increased: Needham raised its price target from $40 to $45 and maintained a Buy rating, implying further upside based on the cited $34.36 reference price. Growth-focused coverage also points to ExlService’s revenue, earnings and industry positioning as potential market-beating attributes. Needham raises ExlService price target Positive Sentiment: iMerit deal expands capabilities: The acquisition is expected to strengthen ExlService’s data and artificial-intelligence services, while adding to its growth opportunity and supporting the higher revenue forecast. Investors have responded favorably to the combination of the deal and improved guidance. Is ExlService Holdings Undervalued Following Strong Results, Higher Guidance, And The iMerit Deal? Neutral Sentiment: EXLS had already surged 17.88% in the prior session and extended a five-day winning streak, increasing the likelihood of short-term profit-taking even though the fundamental news remains favorable. ExlService Soars 17.88%, Wins Hedge Fund Confidence Negative Sentiment: A broader market sell-off, including pressure on technology and growth stocks amid an oil-price surge and U.S.-Iran tensions ahead of the Federal Reserve decision, created an unfavorable backdrop for equities. Oil Spikes, Nasdaq 100 Sinks Before Fed Insider Buying and Selling In other news, insider Vikas Bhalla sold 12,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.22, for a total transaction of $362,640.00. Following the completion of the transaction, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. The trade was a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ajay Ayyappan sold 5,093 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $29.11, for a total transaction of $148,257.23. Following the completion of the transaction, the executive vice president directly owned 48,994 shares in the company, valued at approximately $1,426,215.34. The trade was a 9.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.66% of the company’s stock.
About ExlService (Free Report)
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.
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ExlService NASDAQ: EXLS reported second-quarter 2026 revenue of $594.8 million, up 15.6% year over year on a reported basis and 15.9% on a constant-currency basis, as growth accelerated across each of its operating segments. Adjusted diluted earnings per share rose 22.3% from a year earlier to $0.59.
Chairman and Chief Executive Officer Rohit Kapoor said the company entered 2026 with positive momentum that strengthened through the first half, supported by enterprise demand for data, AI engineering and AI-enabled operations. He said clients are increasingly moving from AI proof-of-concept projects toward production deployments, while also investing in the data, governance, security and infrastructure needed to support AI across their organizations.
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“The effort that is required to enable AI for any enterprise is massive,” Kapoor said during the earnings call. “Clients are really struggling with this change, and we are in a great position to actually help them with this.”
Data and AI-Led Revenue Accelerates Data and AI-led services and solutions accounted for 61% of ExlService’s revenue in the quarter and increased 30% year over year. Kapoor noted that growth in the category has accelerated for four consecutive quarters, from 18% in the third quarter of 2025 to 30% in the latest period.
The company said its reported digital operations revenue declined about 1.5% year over year, but management characterized that decline as a planned consequence of changing revenue mix. As AI becomes embedded into operations engagements, ExlService classifies that work as data and AI-led revenue because it is more intellectual-property-led and higher value, Kapoor said.
ExlService said total operations revenue, which includes both digital operations and AI-led operations, rose 10% year over year. Kapoor said the company is introducing agentic AI into client processes such as insurance claims and underwriting, combining deterministic models designed to follow policies and regulations with probabilistic models used for judgment and decision-making.
The work requires substantial customization by client, business line and geography, he said, even where the company can reuse common tools and components. Kapoor said ExlService’s existing operational relationships, workflow knowledge and familiarity with clients’ data give it an advantage in deploying those solutions.
The company also highlighted token optimization as an emerging opportunity. Kapoor said ExlService has reduced token consumption for certain clients by as much as 80% through workflow-specific design and engineering, helping lower the costs associated with deploying AI models at scale.
Segment Performance Broadly Positive Insurance: Revenue was $197.8 million, up 14.9% year over year, driven by expansion and higher volumes in existing client relationships. Healthcare and life sciences: Revenue was $158 million, up 22% year over year, supported by Payment Integrity services, client expansions and new wins. Banking, capital markets and diversified industries: Revenue was $133.9 million, up 10.7% year over year, reflecting new client wins and expanded existing relationships. International growth markets: Revenue was $105.1 million, up 16.3% year over year and 8.9% sequentially, aided by client ramp-ups, higher volumes and new wins. Kapoor said international markets represent a major long-term opportunity. During the quarter, ExlService appointed Bhupender Singh as president and head of international growth markets. Kapoor said the company has historically had a limited international presence and is investing in talent, solutions and go-to-market capabilities across EMEA and APAC.
He also said cross-selling services to international operations of U.S.-based clients is an area where ExlService needs to improve. Singh is expected to focus on that opportunity, according to Kapoor.
iMerit Acquisition Expected to Close July 31 ExlService announced the acquisition of iMerit, a provider of AI model training, evaluation and reinforcement learning services, which it expects to close on July 31. Kapoor described the transaction as a “transformational pivot” that will add relationships with foundation-model companies, expand the company’s AI capabilities and extend its addressable market into AI technology sectors.
Management said iMerit’s revenue is expected to be concentrated primarily in diversified industries, including work with frontier and foundational model companies, with healthcare and life sciences also representing a meaningful area. The acquisition is not expected to materially affect international growth markets.
ExlService expects iMerit to contribute approximately $28 million to $32 million of revenue over the final five months of 2026. The acquisition is expected to have a marginally dilutive impact of $0.01 on adjusted EPS for the year.
Guidance Raised, With Additional Investment Planned The company raised its full-year 2026 revenue outlook to $2.39 billion to $2.415 billion, representing reported growth of 14% to 16%. The forecast implies organic constant-currency growth of 13% to 14% and includes the anticipated iMerit contribution. At the midpoint, the updated revenue range is $88 million above ExlService’s prior guidance.
ExlService also increased its adjusted diluted EPS outlook to $2.25 to $2.29, from prior guidance of $2.18 to $2.23. The new range represents projected year-over-year growth of approximately 16% to 18%.
Chief Financial Officer Maurizio Nicolelli said the company plans to increase investment during the second half in front-end sales, data management, AI capabilities and solutions. As a result, adjusted operating margin is expected to be lower in the second half than in the first half, though full-year margin is expected to be comparable with 2025.
For the first half, ExlService generated $1.17 billion in revenue, up 14.7% year over year, while adjusted operating margin increased 20 basis points to 20.1%. The company reported $284 million in cash and short- and long-term investments at June 30, against $381 million in revolver debt.
During the first half, ExlService repurchased 5.8 million shares for $179 million at an average price of $30.90 per share. Nicolelli said the company expects to continue repurchases during the second half, though likely at a slower pace than in the first half.
About ExlService (NASDAQ:EXLS)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.
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Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.
In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
ExlService Holdings (EXLS - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this provider of outsourcing services is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for ExlService Holdings is 18.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 15% this year, crushing the industry average, which calls for EPS growth of 7.9%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for ExlService Holdings is 25.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 10.3%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.8% over the past 3-5 years versus the industry average of 8%.
Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for ExlService Holdings have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.1% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made ExlService Holdings a Zacks Rank #2 stock, it has earned itself a Growth Score of A based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that ExlService Holdings is a potential outperformer and a solid choice for growth investors.
Bessemer Group Inc. cut its stake in ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 99.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,027 shares of the business services provider’s stock after selling 511,878 shares during the quarter. Bessemer Group Inc.’s holdings in ExlService were worth $63,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EXLS. AQR Capital Management LLC boosted its stake in ExlService by 109.7% in the 4th quarter. AQR Capital Management LLC now owns 4,118,625 shares of the business services provider’s stock worth $174,794,000 after purchasing an additional 2,154,652 shares during the period. Amundi bought a new position in shares of ExlService in the third quarter valued at approximately $67,862,000. Jane Street Group LLC grew its stake in ExlService by 534.2% during the second quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider’s stock valued at $59,318,000 after acquiring an additional 1,141,008 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in ExlService by 4,269.6% during the second quarter. Qube Research & Technologies Ltd now owns 882,480 shares of the business services provider’s stock valued at $38,644,000 after acquiring an additional 862,284 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in ExlService by 916.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 834,252 shares of the business services provider’s stock worth $36,732,000 after acquiring an additional 752,148 shares during the period. 92.92% of the stock is currently owned by institutional investors.
ExlService Stock Performance NASDAQ:EXLS opened at $30.53 on Wednesday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.20 and a beta of 0.84. The business has a 50 day moving average of $28.00 and a 200 day moving average of $31.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.66 and a quick ratio of 2.66. ExlService Holdings, Inc. has a 1-year low of $24.85 and a 1-year high of $47.11.
ExlService (NASDAQ:EXLS – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $570.35 million for the quarter, compared to analysts’ expectations of $557.67 million. ExlService had a net margin of 11.66% and a return on equity of 28.50%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. On average, sell-side analysts predict that ExlService Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.
Insider Buying and Selling at ExlService In other ExlService news, insider Vikas Bhalla sold 12,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $30.22, for a total transaction of $362,640.00. Following the completion of the sale, the insider directly owned 153,295 shares in the company, valued at $4,632,574.90. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ajay Ayyappan sold 5,093 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total value of $148,257.23. Following the transaction, the executive vice president directly owned 48,994 shares in the company, valued at $1,426,215.34. This trade represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.66% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades EXLS has been the topic of several recent analyst reports. TD Cowen reiterated a “buy” rating and issued a $39.00 target price (down from $45.00) on shares of ExlService in a research note on Thursday, July 9th. Weiss Ratings lowered shares of ExlService from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. upped their price target on shares of ExlService from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of ExlService in a research report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ExlService has an average rating of “Moderate Buy” and a consensus target price of $40.50.
Read Our Latest Stock Analysis on ExlService
ExlService Company Profile (Free Report)
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.
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ExlService Holdings (EXLS - Free Report) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +7.27%. A quarter ago, it was expected that this provider of outsourcing services would post earnings of $0.53 per share when it actually produced earnings of $0.58, delivering a surprise of +9.43%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
ExlService Holdings, which belongs to the Zacks Computers - IT Services industry, posted revenues of $594.76 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.59%. This compares to year-ago revenues of $514.46 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
ExlService Holdings shares have lost about 32.7% since the beginning of the year versus the S&P 500's gain of 8.3%.
What's Next for ExlService Holdings?While ExlService Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for ExlService Holdings was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.56 on $584.61 million in revenues for the coming quarter and $2.24 on $2.32 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Amdocs (DOX - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026.
This provider of computer systems integration is expected to post quarterly earnings of $1.84 per share in its upcoming report, which represents a year-over-year change of +7%. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level.
Amdocs' revenues are expected to be $1.18 billion, up 2.7% from the year-ago quarter.
2026 Second Quarter Revenue of $594.8 Million, up 15.6% year-over-year
Q2 Diluted EPS (GAAP) of $0.42, up 4.9% from $0.40 in Q2 of 2025
Q2 Adjusted Diluted EPS (Non-GAAP) (1) of $0.59, up 22.3% from $0.49 in Q2 of 2025
NEW YORK, July 28, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, today announced its financial results for the quarter ended June 30, 2026.
Chairman and Chief Executive Officer Rohit Kapoor said, “We entered 2026 with strong momentum that accelerated through the first half, delivering second quarter revenue growth of 16% year-on-year and adjusted diluted EPS of 22% year-on-year. Our sustained double-digit growth reflects continued execution of our data and AI strategy and our differentiated position which helps clients effectively adopt AI across the enterprise. We have very good visibility into the balance of the year and look forward to a solid finish to 2026.”
Chief Financial Officer Maurizio Nicolelli said, “Our strong second quarter performance, sustained growth momentum and healthy pipeline give us the confidence to increase our organic full-year revenue growth guidance to 13% to 14%. In addition, we are also updating our guidance to include $28.0 million to $32.0 million of anticipated revenue from the iMerit acquisition, which is expected to close on July 31, 2026. We now expect full-year 2026 total revenue to be in the range of $2.390 billion to $2.415 billion, up from our prior guidance of $2.30 billion to $2.33 billion, reflecting 14% to 16% year-over-year growth on a reported basis. We now expect adjusted diluted earnings per share of $2.25 to $2.29, a 16% to 18% increase over 2025, up from our prior guidance of $2.18 to $2.23.”
(1)Reconciliations of adjusted (non-GAAP) financial measures to the most directly comparable GAAP measures, where applicable, are included at the end of this release under “Reconciliation of Adjusted Financial Measures to GAAP Measures.” These non-GAAP measures, including adjusted diluted EPS and constant currency measures, are not measures of financial performance prepared in accordance with GAAP.
Financial Highlights: Second Quarter 2026
Revenue for the quarter ended June 30, 2026, increased to $594.8 million compared to $514.5 million for the second quarter of 2025, an increase of 15.6% on a reported basis and 15.9% on a constant currency basis. Revenue increased by 4.3% sequentially on a reported basis and 4.4% on a constant currency basis, from the first quarter of 2026. Revenue Gross Margin Three months ended Three months ended Reportable Segments June 30,
2026 June 30,
2025 March 31,
2026 June 30,
2026 June 30,
2025 March 31,
2026 (dollars in millions) Insurance $197.8 $172.2 $194.0 34.6 % 34.8 % 37.7 %Healthcare and Life Sciences 158.0 129.5 151.9 46.9 % 43.5 % 45.3 %Banking, Capital Markets and Diversified Industries 133.9 121.1 127.4 34.8 % 37.8 % 36.9 %International Growth Markets 105.1 91.7 97.1 35.1 % 35.1 % 34.1 %Total $594.8 $514.5 $570.4 38.0 % 37.7 % 38.9 % Operating income margin for the quarter ended June 30, 2026 was 14.7%, compared to 15.8% for the second quarter of 2025 and 16.1% for the first quarter of 2026. Adjusted operating income margin for the quarter ended June 30, 2026 was 19.7%, compared to 19.6% for the second quarter of 2025 and 20.5% for the first quarter of 2026.Diluted earnings per share for the quarter ended June 30, 2026 was $0.42, compared to $0.40 for the second quarter of 2025 and $0.43 for the first quarter of 2026. Adjusted diluted earnings per share for the quarter ended June 30, 2026 was $0.59, compared to $0.49 for the second quarter of 2025 and $0.58 for the first quarter of 2026. Business Highlights: Second Quarter 2026
Won 17 new clients in the second quarter of 2026.EXL agreed to acquire iMerit, advancing its leadership in enterprise AI by adding foundation model expertise and technology.EXL achieved gold status with Databricks and deepened its collaboration to help enterprises build trusted data foundations for AI at scale.EXL became an OpenAI Services Partner, expanding its AI delivery capabilities through OpenAI’s enterprise capabilities.EXL joined the Claude Partner Network, further strengthening its AI ecosystem with Anthropic’s frontier AI models.EXL achieved Snowflake Premier Partner status, reinforcing its commitment to delivering strategic data and AI solutions for clients.EXL integrated with NVIDIA Transaction Foundation Model, bringing next-generation fraud detection and risk intelligence to financial institutions.EXL named a Horizon 3 - Market Leader in the HFS Horizons Data Modernization and AI, 2026 report for EXL’s ability to operationalize AI through semantic data foundations, agentic workflow orchestration, and proven enterprise-scale transformation outcomes.Appointed Bhupender Singh as president and head of international growth markets. 2026 Guidance
Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 95.0, U.K. pound sterling to U.S. dollar exchange rate of 1.33, U.S. dollar to the Philippine peso exchange rate of 61.0 and all other currencies at current exchange rates, we are providing the following guidance for the full year 2026:
Revenue of $2.390 billion to $2.415 billion, representing an increase of 14% to 16% on a reported basis, which includes $28.0 million to $32.0 million of anticipated revenue from the iMerit acquisition, which is expected to close on July 31, 2026, and 13% to 14% on an organic constant currency basis from 2025.Adjusted diluted earnings per share of $2.25 to $2.29, representing an increase of 16% to 18% from 2025. Conference Call
ExlService Holdings, Inc. will host a conference call on Wednesday, July 29, 2026, at 10:00 A.M. ET to discuss the Company’s second quarter operating and financial results. The conference call will be available live via the internet by accessing the investor relations section of EXL’s website at ir.exlservice.com, where an accompanying investor-friendly spreadsheet of historical operating and financial data can also be accessed. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.
To join the live call, please register here. A dial-in and unique PIN will be provided to join the call. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of twelve months.
About ExlService Holdings, Inc.
EXL (NASDAQ: EXLS) is a global data and artificial intelligence ("AI") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare and life sciences, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have over 68,000 employees spanning six continents. For more information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include the satisfaction or waiver of applicable closing conditions to the consummation of the iMerit acquisition and the expected timing thereof, our ability to successfully integrate announced or future strategic acquisitions or achieve anticipated synergies, our ability to maintain and grow client demand, risks related to the use of AI technology, impact on client demands by our selling cycles, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, and risks related to the international nature of our business and other factors are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
EXLSERVICE HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands, except per share amount and share count)
Three months ended June 30, Six months ended June 30, 2026
2025
2026
2025
Revenues, net$594,763 $514,460 $1,165,114 $1,015,479 Cost of revenues(1) 368,800 320,272 717,070 627,977 Gross profit(1) 225,963 194,188 448,044 387,502 Operating expenses: General and administrative expenses 74,436 59,549 143,487 118,966 Selling and marketing expenses 49,628 39,446 96,829 81,371 Depreciation and amortization expense 14,604 14,055 28,607 27,612 Total operating expenses 138,668 113,050 268,923 227,949 Income from operations 87,295 81,138 179,121 159,553 Foreign exchange gain, net 1,609 2,211 2,744 3,403 Interest expense (5,068) (4,282) (9,019) (8,426)Other income, net 130 5,671 2,521 10,374 Income before income tax expense and earnings from equity affiliates 83,966 84,738 175,367 164,904 Income tax expense 19,426 18,546 43,744 32,042 Income before earnings from equity affiliates 64,540 66,192 131,623 132,862 Loss from equity-method investment (29) (141) (31) (250)Net income$64,511 $66,051 $131,592 $132,612 Earnings per share: Basic$0.42 $0.41 $0.85 $0.82 Diluted$0.42 $0.40 $0.85 $0.81 Weighted average number of shares used in computing earnings per share: Basic 152,554,401 162,925,484 154,292,120 162,709,034 Diluted 152,831,994 164,193,258 154,858,444 164,376,498 (1) Exclusive of depreciation and amortization expense.
EXLSERVICE HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except per share amount and share count)
As of June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $126,722 $146,326 Short-term investments 157,102 182,041 Restricted cash 12,964 12,392 Accounts receivable, net 434,362 343,105 Other current assets 144,132 146,093 Total current assets 875,282 829,957 Property and equipment, net 114,587 111,821 Operating lease right-of-use assets 97,495 97,411 Restricted cash 7,086 7,251 Deferred tax assets, net 139,288 129,968 Goodwill 418,693 419,654 Other intangible assets, net 29,720 36,204 Long-term investments 6,396 8,198 Other assets 59,340 61,771 Total assets $1,747,887 $1,702,235 Liabilities and stockholders’ equity Current liabilities: Accounts payable $6,733 $4,753 Current portion of long-term borrowings 381,155 4,886 Deferred revenue 22,591 15,356 Accrued employee costs 112,908 146,775 Accrued expenses and other current liabilities 161,525 135,498 Current portion of operating lease liabilities 18,734 16,857 Total current liabilities 703,646 324,125 Long-term borrowings, less current portion — 293,712 Operating lease liabilities, less current portion 88,130 88,167 Deferred tax liabilities, net 2,256 2,125 Other non-current liabilities 87,613 81,401 Total liabilities 881,645 789,530 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.001 par value; 15,000,000 shares authorized, none issued — — Common stock, $0.001 par value; 400,000,000 shares authorized, 210,101,885 shares issued and 151,745,072 shares outstanding as of June 30, 2026 and 208,855,566 shares issued and 156,430,028 shares outstanding as of December 31, 2025 210 209 Additional paid-in capital 724,432 677,562 Retained earnings 1,664,571 1,532,979 Accumulated other comprehensive loss (223,682) (180,727)Total including shares held in treasury 2,165,531 2,030,023 Less: 58,356,813 shares as of June 30, 2026 and 52,425,538 shares as of December 31, 2025, held in treasury, at cost (1,299,289) (1,117,318)Total stockholders’ equity 866,242 912,705 Total liabilities and stockholders’ equity $1,747,887 $1,702,235
EXLSERVICE HOLDINGS, INC.
Reconciliation of Adjusted Financial Measures to GAAP Measures
In addition to its reported operating results in accordance with U.S. generally accepted accounting principles (GAAP), EXL has included in this release certain financial measures that are considered non-GAAP financial measures, including the following:
Adjusted operating income and adjusted operating income margin;Adjusted EBITDA and adjusted EBITDA margin;Adjusted net income and adjusted diluted earnings per share; andRevenue growth on a constant currency basis. These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, the financial results calculated in accordance with GAAP and reconciliations from those financial statements should be carefully evaluated. EXL believes that providing these non-GAAP financial measures may help investors better understand EXL’s underlying financial performance. Management also believes that these non-GAAP financial measures, when read in conjunction with EXL’s reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company’s results and comparisons of the Company’s results with the results of other companies. Additionally, management considers some of these non-GAAP financial measures to determine variable compensation of its employees. The Company believes that it is unreasonably difficult to provide its earnings per share financial guidance in accordance with GAAP, or a qualitative reconciliation thereof, for a number of reasons, including, without limitation, the Company’s inability to predict its future stock-based compensation expense under ASC Topic 718, the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects. As such, the Company presents guidance with respect to adjusted diluted earnings per share. The Company also incurs significant non-cash charges for depreciation that may not be indicative of the Company’s ability to generate cash flow.
EXL non-GAAP financial measures exclude, where applicable, stock-based compensation expense, amortization of acquisition-related intangible assets, amortization of prior service cost arising from implementation of new Labor Codes in India, certain defined social security contributions, other acquisition-related expenses or benefits and effect of any non-recurring tax adjustments. Acquisition-related expenses or benefits include changes in the fair value of contingent consideration, external deal costs, integration expenses, direct and incremental travel costs and non-recurring benefits or losses. Our adjusted net income and adjusted diluted EPS also excludes the effects of income tax on the above pre-tax items, as applicable. The effects of income tax of each item is calculated by applying the statutory rate of the local tax regulations in the jurisdiction in which the item was incurred.
EXL provides information about revenues on a constant currency basis so that the revenues may be viewed without the impact of foreign currency exchange rate fluctuations compared to prior fiscal periods, thereby facilitating period-to-period comparisons of the Company's underlying business performance. Revenue growth on a constant currency basis is calculated by restating current-period activity using the prior fiscal period's foreign currency exchange rates adjusted for hedging gains/losses in such period. Foreign currency translation impacted revenue growth, primarily driven by movements in the U.S. dollar against the Indian rupee (INR), the U.K. pound sterling (GBP), and Australian dollar (AUD).
A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and exclude costs that are recurring, namely stock-based compensation and amortization of acquisition-related intangible assets. EXL compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.
The following table shows the reconciliation of these non-GAAP financial measures for the three months ended June 30, 2026 and June 30, 2025, and the three months ended March 31, 2026:
Reconciliation of Adjusted Operating Income and Adjusted EBITDA
(Amounts in thousands)
Three months ended June 30, March 31, 2026
2025
2026
Net income (GAAP) $64,511 $66,051 $67,081 add: Income tax expense 19,426 18,546 24,318 add/(subtract): Foreign exchange gain/(loss), net, interest expense, gain/(loss)
from equity-method investment and other income/(loss), net 3,358 (3,459) 427 Income from operations (GAAP) $87,295 $81,138 $91,826 add: Stock-based compensation expense 24,631 16,392 22,101 add: Amortization of acquisition-related intangibles 3,258 3,277 3,226 add: Acquisition-related expenses (a) 1,894 — — Adjusted operating income (Non-GAAP) $117,078 $100,807 $117,153 Adjusted operating income margin as a % of revenue (Non-GAAP) 19.7 % 19.6 % 20.5 %add: Depreciation on long-lived assets 11,346 10,778 10,777 Adjusted EBITDA (Non-GAAP) $128,424 $111,585 $127,930 Adjusted EBITDA margin as a % of revenue (Non-GAAP) 21.6 % 21.7 % 22.4 % (a) To exclude acquisition-related expenses incurred for the announced acquisition of I Merit Inc. (“iMerit”) during the three months ended June 30, 2026.
Reconciliation of Adjusted Net Income and Adjusted Diluted Earnings Per Share
(Amounts in thousands, except per share amount)
Three months ended June 30, March 31, 2026
2025
2026
Net income (GAAP) $64,511 $66,051 $67,081 add: Stock-based compensation expense 24,631 16,392 22,101 add: Amortization of acquisition-related intangibles 3,258 3,277 3,226 add: Changes in fair value of contingent consideration 3,000 — — add: Acquisition-related expenses (a) 1,894 — — add: Amortization of prior service cost (b) 566 — 521 subtract: Acquisition-related adjustments — (945) — subtract: Tax impact on stock-based compensation expense (c) (6,097) (4,211) (1,316)subtract: Tax impact on amortization of acquisition-related intangibles (821) (807) (812)subtract: Tax impact on amortization of prior service cost (144) — (133)Adjusted net income (Non-GAAP) $90,798 $79,757 $90,668 Adjusted diluted earnings per share (Non-GAAP) $0.59 $0.49 $0.58 (a)To exclude acquisition-related expenses incurred for the announced acquisition of iMerit during the three months ended June 30, 2026.(b)To exclude amortization of prior service cost arising from the implementation of the new Labor Codes in India.(c)Tax impact includes ($17) and $203 during the three months ended June 30, 2026 and 2025 respectively, and $1,280 during the three months ended March 31, 2026, related to discrete benefits recognized in income tax expense in accordance with ASU No. 2016-09, Compensation - Stock Compensation.
ExlService (NASDAQ:EXLS – Get Free Report) is expected to be posting its Q2 2026 results after the market closes on Tuesday, July 28th. Analysts expect the company to post earnings of $0.55 per share and revenue of $573.9410 million for the quarter. ExlService has set its FY 2026 guidance at 2.180-2.230 EPS. Interested persons can find conference call details on the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Wednesday, July 29, 2026 at 10:00 AM ET.
ExlService (NASDAQ:EXLS – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $570.35 million for the quarter, compared to analyst estimates of $557.67 million. ExlService had a net margin of 11.66% and a return on equity of 28.50%. ExlService’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. On average, analysts expect ExlService to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
ExlService Trading Up 2.9% Shares of EXLS stock opened at $27.67 on Friday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.53. ExlService has a fifty-two week low of $24.85 and a fifty-two week high of $47.11. The firm’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $31.33.
Analyst Ratings Changes A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of ExlService from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Barrington Research reaffirmed an “outperform” rating and set a $40.00 price target on shares of ExlService in a research report on Thursday, June 25th. TD Cowen reiterated a “buy” rating and issued a $39.00 price target (down from $45.00) on shares of ExlService in a report on Thursday, July 9th. Finally, Weiss Ratings lowered ExlService from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.50.
Read Our Latest Stock Analysis on EXLS
Insider Buying and Selling In other news, EVP Ajay Ayyappan sold 5,093 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $29.11, for a total value of $148,257.23. Following the completion of the transaction, the executive vice president directly owned 48,994 shares in the company, valued at approximately $1,426,215.34. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikas Bhalla sold 12,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.22, for a total transaction of $362,640.00. Following the sale, the insider directly owned 153,295 shares of the company’s stock, valued at approximately $4,632,574.90. The trade was a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.66% of the company’s stock.
Hedge Funds Weigh In On ExlService A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new position in shares of ExlService in the fourth quarter worth about $238,000. Quarry LP grew its stake in ExlService by 55.6% during the 3rd quarter. Quarry LP now owns 5,260 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 1,880 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in ExlService by 82.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,396 shares of the business services provider’s stock worth $229,000 after purchasing an additional 2,439 shares during the last quarter. Aristides Capital LLC purchased a new stake in ExlService during the 4th quarter worth approximately $209,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of ExlService in the 4th quarter valued at approximately $145,000. 92.92% of the stock is owned by hedge funds and other institutional investors.
About ExlService (Get Free Report)
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.
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Bina Mehta appointed to EXL’s board; Sarah K. Williamson to succeed Vikram Pandit as lead independent director by the end of 2026 July 21, 2026 16:01 ET | Source: EXL
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a global data and AI company, announced that Bina Mehta, the former Chair of KPMG UK and a professional services leader with an extensive track record of advising global clients to deliver transformation and sustainable growth, has been appointed to EXL’s Board of Directors as an independent director effective July 16, 2026. Mehta will be a member of the board’s audit committee and compensation and talent management committee.
“We are thrilled to welcome Bina to the EXL board,” said Rohit Kapoor, chairman and chief executive officer. “She brings over three decades of experience spanning mergers and acquisitions (M&A), advisory and restructuring across four countries, and a deep understanding of what it takes to grow and lead a global business. Bina’s expertise in finance, governance, and building high-performing organizations internationally will be invaluable as we continue to scale our data and AI capabilities for our clients.”
“Throughout my career I have supported global businesses through fundamental transformation, not dissimilar to the journey EXL is undertaking,” said Mehta. “I am particularly drawn to EXL’s strong domain expertise in key industries such as insurance, healthcare, financial services that are at the leading edge of AI-driven transformation. I am excited to contribute to the board and management team as EXL continues its transformation with investments in technology and AI and as it helps its clients embrace the opportunities that data and AI present.”
As Chair of KPMG UK from 2021 to 2026, Mehta led the firm through a period of significant transformation and growth. She also chaired the KPMG Foundation from 2022 to 2026.
Mehta originally joined KPMG in 1990 and her experience there advising global clients on M&A, restructuring and transformation spans four countries – UK, India, the United States, and Canada.
Mehta is active in the technology sector, having led KPMG UK’s Emerging Giants practice focused on fast growth technology businesses and was appointed to the UK government’s AI Opportunity Forum in 2024 that drives adoption of AI across the private sector. She was honored with a Member of the Order of the British Empire (MBE) in 2022 for services in trade and investment and for supporting female entrepreneurs. She also serves on the board of the International Chambers of Commerce UK and is an Honorary Fellow in Entrepreneurship at the University of Cambridge’s Judge Business School and Visiting Professor at Bayes Business School. She is based in London.
EXL also announced a board leadership transition. Sarah K. Williamson will assume the role of lead independent director by the end of 2026, succeeding Vikram Pandit. Pandit has served as lead independent director since April 2024 and previously served as chairman of the board beginning in 2022. Pandit will remain on the board as an independent director.
“Sarah has demonstrated exceptional leadership since joining the board, and Vikram’s continued presence as a director will ensure a smooth and effective transition,” said Kapoor. “We are grateful for Vikram’s service as lead director and look forward to Sarah’s continued contributions in this new capacity.”
“It has been a privilege to serve as lead independent director during an important period in EXL’s growth,” said Vikram Pandit. “Sarah brings strong leadership and sound judgment to the role, and I look forward to supporting a smooth transition while continuing to serve on the board.”
“I am honored to step into the lead director role and want to thank Vikram for his service in this capacity,” said Sarah K. Williamson. “I look forward to working closely with Rohit and the management team as EXL continues to execute its growth strategy.”
Williamson has served as a member of the EXL board since June 2023. She is the chief executive officer of FCLTGlobal, a not-for-profit organization whose mission is to focus capital on the long term to support a sustainable and prosperous economy. Prior to FCLTGlobal, she spent over 20 years at Wellington Management, most recently as a Partner and Director of Alternative Investments. Earlier in her career, she was a senior engagement manager at McKinsey & Company, a special assistant at the U.S. Department of State, and a mergers and acquisitions banker at Goldman Sachs. She also serves as a director of Evercore (NYSE: EVR).
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
ExlService Holdings (EXLS - Free Report) closed the last trading session at $28.49, gaining 0.3% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $41 indicates a 43.9% upside potential.
The average comprises eight short-term price targets ranging from a low of $35.00 to a high of $46.00, with a standard deviation of $3.78. While the lowest estimate indicates an increase of 22.9% from the current price level, the most optimistic estimate points to a 61.5% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for EXLS, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in EXLSThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 0.1%, as one estimate has moved higher compared to no negative revision.
Moreover, EXLS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much EXLS could gain, the direction of price movement it implies does appear to be a good guide.
ExlService Holdings (EXLS - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for ExlService Holdings is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For ExlService Holdings, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for ExlService HoldingsThis provider of outsourcing services is expected to earn $2.24 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for ExlService Holdings. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.4%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of ExlService Holdings to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.
In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
ExlService Holdings (EXLS - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
Here are three of the most important factors that make the stock of this provider of outsourcing services a great growth pick right now.
Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for ExlService Holdings is 18.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 15% this year, crushing the industry average, which calls for EPS growth of 8%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for ExlService Holdings is 25.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 9.3%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.8% over the past 3-5 years versus the industry average of 8.5%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for ExlService Holdings. The Zacks Consensus Estimate for the current year has surged 0.1% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made ExlService Holdings a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that ExlService Holdings is a potential outperformer and a solid choice for growth investors.
NEW YORK, July 08, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, will release financial results for the second quarter ended June 30, 2026, on Tuesday, July 28, 2026, after the market closes. An earnings news release, investor fact sheet and presentation will be published on the company’s investor relations website offering an overview of the financial results.
The company will host a conference call at 10:00 a.m. EDT the following day, Wednesday, July 29, 2026, with Chairman and Chief Executive Officer Rohit Kapoor and Executive Vice President and Chief Financial Officer Maurizio Nicolelli, who will provide insights into the company’s operational and financial results.
To listen to video live webcast or to participate in the call, please register here. A replay of the webcast will be available for approximately one year.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
Contact:
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
EXL’s 2026 UK Enterprise AI Study finds that while most companies think they’re ahead of the competition at AI, few actually see results at scale July 08, 2026 05:03 ET | Source: EXL
75% of companies believe they are ahead of their competitors on AI, but just 12% meet the criteria to qualify as an AI Leader93% of UK companies believe it’s important to scale AI, yet only 3% will be given incremental budget (compared of 60% U.S. companies)77% of respondents say data is their biggest challenge in using AI effectively LONDON, July 08, 2026 (GLOBE NEWSWIRE) -- Most UK businesses believe they're outperforming their competitors on AI, and 38% of companies in the UK have already moved agentic AI beyond the pilot stage. But new research from EXL (NASDAQ: EXLS), a global data and AI company, shows that just 12% are making significant company-wide progress integrating AI across core business functions and experiencing a notable return on investment (ROI) from their AI initiatives.
The third annual EXL UK Enterprise AI Study is based on a survey of 212 C-suite and other senior decision makers across the banking and finance, insurance, retail, and utilities industries. Its findings reveal a significant disconnect between how organisations assess their AI progress and where they currently stand on real-world AI integration.
“As the pressure mounts for companies in the UK to deliver measurable results from AI, leaders in this space are distinguishing themselves by reimagining their business from the ground up,” said Bhupender Singh, president and head of international growth markets at EXL. “In order to catch up to these leaders, companies that are lagging behind need more than just technology; they need to redesign their operating models, from workflows to talent management and underlying data infrastructure.”
The following are some of the report's key findings:
Most UK businesses are overestimating progress made on AI integration: While 75% of UK business leaders say they are ahead of their competitors on enterprise AI integration, our research shows only 12% qualify as AI Leaders. Those Leaders have moved beyond pilots and embedded AI into high-impact workflows, reimagining how work gets done to generate greater business value. UK firms struggle with data in AI implementation: Overall, 77% of respondents said data is their biggest challenge in using AI effectively, even though improving data quality and accessibility was recognized as the most important approach for scaling future AI implementations. The companies succeeding in AI were roughly five times more likely to say they had leading-edge data management programs than those lagging behind. Utility companies drive biggest returns on AI investments: Agentic AI has been deployed in areas from customer service and experience in banking, finance and insurance, merchandising management in retail, and network security in utilities. However, it is utility companies that generated the biggest improvements in cost reduction, revenue growth, and margin expansion. Utilities in the UK have seen an average improvement across these financial measures of 27% from AI and 28% from agentic AI. The smallest financial benefits have been seen by insurers, with average returns of 18% and 17%, respectively. This may be a matter of who’s willing to prioritise AI, as 61% of utilities organisations rated scaling AI as extremely important against only 33% of insurers. Leaders reshape their operating models to align with AI: UK firms defined as AI Leaders understand that this technology cannot scale as a bolt-on to traditional operating models. Last year’s study found that 52% of Leaders completely redesigned their enterprise-wide operating model to deploy and benefit from AI. This year, 35% of Leaders indicate having done so. To their credit, AI Laggards are beginning to get the message. After only 3% of Laggards in last year’s study reported having redesigned their operating model, this year the figure jumps to 38%. To dive deeper into the findings, download the 2026 EXL UK Enterprise AI Study. For more information and to explore how EXL can deliver value for your AI initiatives, contact us.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
ExlService Holdings, Inc. (EXLS) M&A Call June 24, 2026 12:00 PM EDT
Company Participants
Andrew Thut - Head of Investor Relations & Capital Markets
Rohit Kapoor - Co-Founder, Chairman & CEO
Radha Basu - Founder, CEO & Director
Maurizio Nicolelli - Executive VP & CFO
Conference Call Participants
Bryan Bergin - TD Cowen, Research Division
Puneet Jain - JPMorgan Chase & Co, Research Division
Matt Dezort - William Blair & Company L.L.C., Research Division
Surinder Thind - Jefferies LLC, Research Division
Jacob Haggarty - Robert W. Baird & Co. Incorporated, Research Division
Presentation
Operator
Good day, everyone. My name is Abigail, and I will be your conference operator today. At this time, I would like to welcome you to the ExlService Holdings, Inc. June announcement conference call. We ask that you please hold all questions until the completion of the formal remarks at which time you will be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time.
I will now turn the call over to Andrew Thut, Head of Investor Relations and Capital Markets.
Andrew Thut
Head of Investor Relations & Capital Markets
Thanks, Abigail. Hello, and thank you for joining us to discuss this morning's announcement of EXL's proposed acquisition of iMerit. On the call with me today are Rohit Kapoor, Chairman and Chief Executive Officer of EXL; Radha Basu, Chief Executive Officer of iMerit; and Maurizio Nicolelli, Chief Financial Officer of EXL. We hope you've had a chance to review the press release we issued this morning. It is also posted to our company website.
As a reminder, some of the matters we'll discuss this afternoon are forward looking. Please keep in mind that these forward-looking statements are subject to known and unknown risks and uncertainties that could
Positions EXL to accelerate AI innovation in the enterprise with iMerit’s direct relationships with foundation model buildersDeepens EXL’s vertically specialized end-to-end AI capabilities with iMerit’s model training, evaluation and reinforcement learningExpands EXL’s total addressable market across high-growth AI tech sectors, and multiplies the impact of iMerit on a broader enterprise audience NEW YORK, June 24, 2026 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, today announced a definitive agreement to acquire iMerit, a recognized leader in AI model training, evaluation and reinforcement learning. iMerit is focused on helping its clients train large language and multimodal models to improve accuracy, precision, and effectiveness. The acquisition, valued at up to $310 million in upfront and future consideration, is expected to close in the third quarter of 2026, subject to customary closing conditions. The move strengthens EXL’s ability to help enterprises achieve measurable outcomes from AI, builds partnerships with leading foundation model builders and expands EXL’s reach into high-growth AI tech sectors.
"As organizations reimagine their businesses with AI, success requires industry-specific data, rigorous evaluation and reinforcement learning to deliver reliable results in business-critical workflows,” said Rohit Kapoor, chairman and chief executive officer of EXL. “The acquisition of iMerit strengthens EXL’s AI strategy and ability to help clients move from experimentation to production. By combining iMerit’s capabilities with EXL’s domain expertise and AI platforms, we are setting the standard for AI that is trusted, accountable and built to perform in the enterprise.”
EXL will now be at the center of how next-gen AI is built, leveraging iMerit’s client relationships with leading foundation model companies. EXL and its clients will benefit from early insight into how models are trained, fine-tuned and improved. This also positions EXL to help enterprises build fit-for-purpose small language models tailored to their data and workflows.
iMerit enhances EXL’s platform and human intelligence capabilities through its Ango platform and Scholars network. Ango powers sophisticated data interactions with GenAI models, enabling chain-of-thought reasoning, red teaming and multimodal evaluations. Scholars expands EXL’s domain expertise through iMerit’s global network of specialists, including physicians, scientists, engineers, linguists and other subject matter experts who support human intelligence-driven feedback workflows for reinforcement learning.
EXL will integrate Ango with its agentic platforms — including EXLerate.ai, EXLdata.ai, and EXLdecision.ai — to combine expert human judgment, model evaluation and enterprise-scale execution. Together, these capabilities create an end-to-end AI platform that helps enterprises accelerate the transition from pilot to production-scale AI.
“We see EXL as an ideal leader in this defining moment for AI. We can build on our work with AI innovators and bring those insights to companies seeking to unlock their proprietary data,” said Radha Ramaswami Basu, chief executive officer and founder of iMerit. “Both companies share a belief that specialized high-quality data is the foundation of AI success. We are excited to multiply our impact through EXL’s industry expertise, complementary technology and trusted enterprise relationships.”
These offerings strengthen EXL’s vertically integrated AI stack and its ability to build and fine-tune domain-specific language models. This is particularly critical for regulated industries such as healthcare, insurance, banking and capital markets where EXL is already a highly trusted data and AI partner.
This acquisition also expands EXL into high-growth AI sectors, including high tech, mobility, autonomous systems and physical AI. iMerit’s expertise across text, image, video, voice and LiDAR data creates a strong foundation for AI solutions powering robotics, autonomous vehicles and intelligent real-world environments.
Transaction Details
The $310 million acquisition involves an upfront consideration of $170 million, with an additional $140 million in incentives and earnouts over two years contingent on meeting specified milestones. The transaction is expected to close in the third quarter of this year, subject to customary closing conditions, including expiration or termination of the waiting period for applicable antitrust regulations.
Conference Call
EXL will host a conference call today, June 24, 2026, at 12:00 P.M. ET to provide additional information. The conference call will be available live via the internet by accessing the investor relations section of EXL’s website at ir.exlservice.com. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.
To join the live call, please register here. A dial-in and unique PIN will be provided to join the call. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of twelve months.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare and life sciences, banking and capital markets, retail, communications and media and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have over 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
About iMerit
iMerit is a leader in AI fine tuning, evaluation, and reinforcement learning. iMerit helps frontier AI labs and enterprises build more accurate, reliable, and domain-aware models. iMerit delivers high-quality data across industries such as high-tech, autonomous mobility, healthcare AI, and robotics. Scholars, its global network of specialists, includes physicians, scientists, engineers, linguists, and other subject matter experts who power high-quality data creation, reasoning evaluation, model alignment, and human feedback workflows for next-generation AI systems. Its proprietary Ango Hub platform allows customers and experts to collaborate on complex multimodal data to generate highly curated and validated training artifacts for high-stakes models. iMerit is backed by Khosla Ventures, Omidyar Network, Dell Foundation and British International Investment (BII). Learn more at imerit.ai.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include the satisfaction or waiver of applicable closing conditions to the consummation of the iMerit acquisition, our ability to successfully integrate strategic acquisitions or achieve anticipated synergies, our ability to maintain and grow client demand, risks related to the use of AI technology, impact on client demands by our selling cycles, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, and risks related to the international nature of our business and other factors are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
Contacts:
Investor Relations
Andrew Thut
Head of Investor Relations and Capital Markets [email protected]
Media – US, UK
Keith Little
Head of Public Relations [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0d619380-0e67-481b-b9ac-3d39b6a4008e.
EXL to acquire iMerit, advancing its leadership as the strategic partner for AI in the enterprise a global data and AI company, today announced a definitive agreement to acquire iMerit, a recognized...
EXL’s 2026 U.S. Enterprise AI Study finds significant gap between perceived progress on AI adoption and real-world performance improvement
76% of companies believe they are ahead of their competitors on AIJust 10% meet the criteria of an AI LeaderAI Leaders achieve 27% revenue growth, 26% cost reduction and 22% margin improvement by reimagining core workflows NEW YORK, June 17, 2026 (GLOBE NEWSWIRE) -- Most companies believe they're outperforming their competitors on AI. New research from EXL [NASDAQ: EXLS], a global data and AI company, shows only one in 10 are making significant company-wide progress integrating AI across core business functions and experiencing a notable return on investment (ROI) from their AI initiatives. The gap is not a technology problem. It is an operating model problem.
The third annual EXL U.S. Enterprise AI Study is based on a survey of 322 C-suite and other senior decision makers across the banking and finance, insurance, retail, utilities, life sciences, and healthcare payer industries. Its findings reveal a significant disconnect between how organizations assess their AI progress and where they currently stand on real-world AI integration.
“Every company is now using AI in some capacity, but we’re really starting to see leaders distinguish themselves from the pack when it comes to large-scale enterprise integration,” said Anand “Andy” Logani, executive vice president and chief AI officer at EXL. “What separates the leaders is that they've stopped trying to fit AI into the way they already work, and started asking a more fundamental question: if AI were built in from the start, how would this workflow, this team, this decision look different? Moving from AI experimentation to AI execution requires more than technology investment; it requires operating model transformation.”
The following are some of the report’s key findings:
Most companies see themselves as ahead on AI, but the reality is more sobering, while 76% say they are ahead of competitors, our research show only 10% qualify as AI Leaders. Those leaders have moved beyond pilots and embedded AI into high-impact workflows, reimagining how work gets done to generate greater business value. AI leaders generate quantifiable ROI: AI Leaders, despite representing just 10% of respondents, are generating substantially stronger returns. Leaders estimate that AI has reduced costs by 26%, boosted revenue by 27%, and improved margin by 22% within the specific areas it’s been implemented. Laggards trail in all three areas. Leaders also report greater stability in uncertain markets, better customer engagement, and more effective market expansion as direct results of AI use. Operating model transformation is a key differentiator: Central to the Leaders' approach is a willingness to redesign enterprise-wide operating models rather than adapt existing ones. While many organizations have made incremental changes to accommodate AI, Leaders have taken a more fundamental step: rebuilding workflows, redefining roles, and restructuring decision processes with AI embedded at the core. All told, 44% of Leaders have completely redesigned their enterprise-wide operating models to accommodate AI use. That number falls to just 23% among Laggards.Data-readiness remains a massive challenge: Data infrastructure remains the single most cited barrier to scaling AI, with seven in 10 respondents describing data as a challenge. Data privacy and security (34%), siloed data across multiple sources (31%), and limited model transparency (31%) were the three most frequently named obstacles. Among Laggards, 83% still contend with data siloed within business functions, compared to 44% of Leaders who have achieved enterprise-wide data accessibility. To dive deeper into the findings, download the 2026 EXL U.S. Enterprise AI Study. For more information and to explore how EXL can deliver value for your AI initiatives, contact us.
About EXL
EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world's leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 67,000 employees spanning six continents. For more information, visit www.exlservice.com.
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
ExlService Holdings (EXLS - Free Report) has been on a downward spiral lately with significant selling pressure. After declining 11.3% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Why a Trend Reversal is Due for EXLSThe heavy selling of EXLS shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.17. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.
This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering EXLS in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.2% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, EXLS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.
Our proprietary system currently recommends ExlService Holdings (EXLS - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this provider of outsourcing services a great growth pick right now.
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for ExlService Holdings is 18.2%, investors should actually focus on the projected growth. The company's EPS is expected to grow 14.9% this year, crushing the industry average, which calls for EPS growth of 8.8%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for ExlService Holdings is 25.5%, which is higher than many of its peers. In fact, the rate compares to the industry average of 8.8%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.8% over the past 3-5 years versus the industry average of 8.5%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for ExlService Holdings have been revising upward. The Zacks Consensus Estimate for the current year has surged 0.2% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made ExlService Holdings a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that ExlService Holdings is a potential outperformer and a solid choice for growth investors.
Boston Trust Walden Corp cut its stake in ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,608,036 shares of the business services provider’s stock after selling 113,123 shares during the period. ExlService makes up about 0.8% of Boston Trust Walden Corp’s holdings, making the stock its 19th largest holding. Boston Trust Walden Corp owned approximately 1.64% of ExlService worth $110,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in EXLS. AQR Capital Management LLC grew its position in ExlService by 540.4% in the third quarter. AQR Capital Management LLC now owns 1,963,973 shares of the business services provider’s stock worth $86,474,000 after acquiring an additional 1,657,317 shares during the period. Amundi purchased a new position in ExlService in the third quarter worth approximately $67,862,000. Jane Street Group LLC grew its position in ExlService by 534.2% in the second quarter. Jane Street Group LLC now owns 1,354,599 shares of the business services provider’s stock worth $59,318,000 after acquiring an additional 1,141,008 shares during the period. Qube Research & Technologies Ltd grew its position in ExlService by 4,269.6% in the second quarter. Qube Research & Technologies Ltd now owns 882,480 shares of the business services provider’s stock worth $38,644,000 after acquiring an additional 862,284 shares during the period. Finally, Tudor Investment Corp ET AL grew its position in ExlService by 451.2% in the third quarter. Tudor Investment Corp ET AL now owns 975,894 shares of the business services provider’s stock worth $42,969,000 after acquiring an additional 798,831 shares during the period. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
ExlService Stock Up 0.2% NASDAQ:EXLS opened at $31.87 on Wednesday. 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 stock’s fifty day moving average is $30.63 and its two-hundred day moving average is $36.98. ExlService Holdings, Inc. has a 52 week low of $26.94 and a 52 week high of $48.79. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89.
ExlService declared that its board has approved a share repurchase program on Tuesday, March 17th that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership 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 stock was sold at an average price of $42.53, for a total transaction of $345,088.42. Following the transaction, the executive vice president directly owned 53,515 shares in the company, valued at $2,275,992.95. This represents a 13.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 11,586 shares of company stock worth $449,725 in the last 90 days. 4.04% of the stock is owned by corporate insiders.
Analyst Ratings Changes EXLS has been the subject of several analyst reports. Robert W. Baird set a $35.00 price objective on ExlService in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ExlService in a research report 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. Wall Street Zen upgraded ExlService from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Stifel Nicolaus lowered their price objective on ExlService from $54.00 to $46.00 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 issued a Hold rating to the stock. According to data from MarketBeat.com, ExlService currently has an average rating of “Moderate Buy” and a consensus price target of $43.60.
Get Our Latest Analysis on ExlService
About ExlService (Free Report)
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.
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On April 23, 2026, ExlService Holdings Inc EXLS shares fell 3.3% to a current price of $30.56. This decline comes amid a challenging year, with the stock down 28.0% year-to-date and 30.7% over the past year. The shares have fluctuated between a 52-week high of $48.79 and a low of $26.94.
GF Value™ verdict: Current price is $30.56, 34.1% undervalued compared to GF Value™ of $46.39.GF Score™ is 88/100, indicating strong overall performance.Most notable signal: Financial Strength rated at 8/10. Is EXLS Overvalued or Undervalued? ExlService Holdings Inc's current share price of $30.56 is significantly below the GF Value™ estimate of $46.39, suggesting that the stock is undervalued by 34.1%. This margin of safety provides an opportunity for potential investors, as undervaluation could indicate a favorable entry point. However, it is important to consider market conditions and operational performance that may impact future growth and profitability. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
While the GF Valuation label indicates that EXLS is significantly undervalued, investors should remain cautious. The company's stock has experienced a notable decline over the past year, and potential risks such as market volatility and changes in operational performance could affect future valuation. Nonetheless, the current valuation presents an intriguing opportunity for those who believe in the company's long-term growth prospects.
How Does EXLS's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)19.8x34.1x Forward P/E14.0xN/A The current P/E ratio of 19.8x is 42% below its 5-year median P/E of 34.1x, indicating that EXLS is trading below its historical valuation. This analysis aligns with the GF Value™ verdict, further supporting the notion that the stock is undervalued at its current price.
What Does EXLS's GF Score™ Tell Us? MetricRating GF Score™88 Financial Strength8/10 Profitability10/10 Growth10/10 Valuation4/10 Momentum2/10 The GF Score™ of 88/100 indicates that ExlService Holdings Inc has a strong potential for generating long-term returns. The strongest areas are Profitability and Growth, both scoring 10/10, reflecting the company's solid operational performance and growth trajectory. However, the Valuation and Momentum ranks are weaker at 4/10 and 2/10, respectively, suggesting that the current market sentiment may not favor the stock, despite its underlying strengths.
What Are Insiders Doing with EXLS Stock? In the last three months, insiders sold $0.5 million worth of ExlService Holdings Inc stock, with no reported insider buying. This pattern may signal caution among insiders regarding the company's near-term performance. While insider selling can sometimes be interpreted as a negative signal, it is essential to consider the context of individual circumstances and overall market conditions.
What This Means for Investors Based on the GF Value™ estimate, ExlService Holdings Inc EXLS is currently undervalued. The significant gap between its current price and intrinsic value indicates potential for price appreciation, albeit with some risks that need to be monitored.
For the complete analysis, visit the ExlService Holdings Inc EXLS stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is EXLS's GF Score™?
EXLS's GF Score™ is 88/100, indicating strong overall performance based on key financial metrics.
Is EXLS overvalued or undervalued?
According to GF Value™, EXLS is currently undervalued, with a significant margin of safety compared to its estimated intrinsic value.
What is EXLS's P/E ratio?
EXLS's P/E ratio is 19.8x, which is 42% below its historical 5-year median P/E of 34.1x, indicating that the stock is trading at a lower valuation than in the past.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Cwm LLC lowered its stake in shares of ExlService Holdings, Inc. (NASDAQ:EXLS – Free Report) by 34.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,245 shares of the business services provider’s stock after selling 25,919 shares during the period. Cwm LLC’s holdings in ExlService were worth $2,048,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of EXLS. Mather Group LLC. purchased a new position in shares of ExlService during the 3rd quarter valued at $25,000. CENTRAL TRUST Co increased its holdings in ExlService by 2,428.0% in the 3rd quarter. CENTRAL TRUST Co now owns 632 shares of the business services provider’s stock worth $28,000 after acquiring an additional 607 shares during the last quarter. True Wealth Design LLC increased its holdings in ExlService by 57.2% in the 4th quarter. True Wealth Design LLC now owns 706 shares of the business services provider’s stock worth $30,000 after acquiring an additional 257 shares during the last quarter. First Horizon Corp bought a new stake in ExlService in the 3rd quarter valued at about $32,000. Finally, V Square Quantitative Management LLC purchased a new stake in ExlService during the fourth quarter valued at about $33,000. Institutional investors own 92.92% of the company’s stock.
Wall Street Analyst Weigh In A number of brokerages have weighed in on EXLS. Robert W. Baird set a $35.00 target price on shares of ExlService in a research 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 on the stock in a research note on Thursday, February 26th. Wall Street Zen raised shares of ExlService from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ExlService in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus lowered their target price on shares of ExlService from $54.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, ExlService currently has a consensus rating of “Moderate Buy” and an average price target of $43.60.
Get Our Latest Stock Analysis on ExlService
Insiders Place Their Bets In other ExlService news, EVP Ajay Ayyappan sold 1,197 shares of the firm’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 11,586 shares of company stock worth $449,725. Corporate insiders own 4.04% of the company’s stock.
ExlService Stock Down 0.5% EXLS stock opened at $30.40 on Friday. The stock has a 50-day simple moving average of $30.68 and a two-hundred day simple moving average of $36.81. ExlService Holdings, Inc. has a twelve month low of $26.94 and a twelve month high of $48.79. The firm has a market capitalization of $4.75 billion, a PE ratio of 19.74, a PEG ratio of 1.38 and a beta of 0.89. 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 announced that its board has initiated a stock buyback plan on Tuesday, March 17th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the business services provider to buy up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
ExlService Company Profile (Free Report)
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.
Further Reading Five stocks we like better than ExlService
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