EXL enhances partnership with Databricks, launching a GenAI-enabled solution for efficient SAS code migration to Databricks.
Quiver AI Summary
EXL has broadened its partnership with Databricks to implement a GenAI-enabled migration solution, facilitating the transition from SAS to the Databricks Data Intelligence Platform. By utilizing EXL’s Code Harbor™, the solution automates key aspects of the migration process, aiming to reduce manual effort and support cloud modernization for various sectors like insurance, banking, and healthcare. The partnership has earned EXL Select partner status with Databricks, which enhances the development of new AI solutions within its ecosystem. A recent case highlights how a prominent insurance provider achieved a 50% faster migration with minimal manual input by employing Code Harbor. This innovative solution addresses the complexities and high costs typically associated with legacy system migrations through intelligent automation, improving compliance and integration with existing governance frameworks.
Potential Positives
- EXL expanded its partnership with Databricks, enhancing its position in the data and AI space, which may lead to increased business opportunities.
- The introduction of the GenAI-enabled SAS to Databricks migration solution can significantly cut migration timelines by up to 50% and reduce manual efforts by 70-80%, making EXL's services more appealing to clients.
- EXL achieved Select partner status with Databricks, which could accelerate the development of new AI and GenAI solutions, further solidifying its competitive advantage.
- A recent success story involving a leading global insurance provider demonstrates the effectiveness of EXL's Code Harbor, showcasing the tangible benefits clients can reap from using this solution.
Potential Negatives
- EXL's reliance on forward-looking statements may raise concerns regarding the predictability of its future financial performance, given the uncertainties associated with these claims.
- The press release highlights potential challenges such as hiring and retaining sufficiently trained employees, which could indicate workforce stability issues that may impact service delivery.
- The mention of external factors like rising interest rates and inflation could signal economic vulnerabilities that may affect EXL's operations and client demand.
FAQ
What is EXL's partnership with Databricks about?
EXL expanded its partnership with Databricks to deploy a GenAI-enabled SAS to Databricks migration solution, enhancing cloud modernization.
How does EXL Code Harbor streamline migration?
EXL Code Harbor automates key aspects of SAS to Databricks migration, reducing manual effort and ensuring high-quality code transformation.
Which industries can benefit from EXL Code Harbor?
EXL Code Harbor is designed for multi-industry usage, including insurance, banking, and healthcare, where SAS is widely used.
What are the benefits of using EXL Code Harbor?
Clients can achieve faster migration, improved compliance, and reduced manual efforts, leveraging advanced AI capabilities throughout the process.
How much faster is the migration with EXL Code Harbor?
Clients can accelerate their migration timelines by up to 50%, with manual efforts reduced by 70-80% using EXL Code Harbor.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EXLS Insider Trading Activity
$EXLS insiders have traded $EXLS stock on the open market 14 times in the past 6 months. Of those trades, 0 have been purchases and 14 have been sales.
Here’s a breakdown of recent trading of $EXLS stock by insiders over the last 6 months:
- AJAY AYYAPPAN (EVP & Gen Counsel/Corp. Sec'y.) has made 0 purchases and 6 sales selling 23,040 shares for an estimated $1,176,638.
- VIKAS BHALLA (President of EXL) sold 25,000 shares for an estimated $1,152,750
- ANITA MAHON (Executive Vice President) has made 0 purchases and 5 sales selling 19,358 shares for an estimated $924,488.
- JAYNIE M STUDENMUND sold 14,580 shares for an estimated $692,987
- MAURIZIO NICOLELLI (Executive Vice President & CFO) sold 13,753 shares for an estimated $675,822
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EXLS Hedge Fund Activity
We have seen 237 institutional investors add shares of $EXLS stock to their portfolio, and 202 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO added 1,943,471 shares (+40.8%) to their portfolio in Q1 2025, for an estimated $91,751,265
- THRIVENT FINANCIAL FOR LUTHERANS removed 1,379,202 shares (-57.5%) from their portfolio in Q1 2025, for an estimated $65,112,126
- MACKENZIE FINANCIAL CORP removed 1,292,792 shares (-32.7%) from their portfolio in Q1 2025, for an estimated $61,032,710
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC removed 1,222,061 shares (-23.7%) from their portfolio in Q1 2025, for an estimated $57,693,499
- DRIEHAUS CAPITAL MANAGEMENT LLC added 1,221,793 shares (+inf%) to their portfolio in Q1 2025, for an estimated $57,680,847
- BLACKROCK, INC. removed 1,152,827 shares (-4.8%) from their portfolio in Q1 2025, for an estimated $54,424,962
- INVESCO LTD. added 880,612 shares (+125.5%) to their portfolio in Q1 2025, for an estimated $41,573,692
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$EXLS Analyst Ratings
Wall Street analysts have issued reports on $EXLS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Jefferies issued a "Buy" rating on 01/21/2025
To track analyst ratings and price targets for $EXLS, check out Quiver Quantitative's $EXLS forecast page.
Full Release
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- EXL [NASDAQ: EXLS], a leading data and AI company, expanded its partnership with Databricks, the data and AI company, to deploy a GenAI-enabled SAS to Databricks Data Intelligence Platform migration solution. Leveraging EXL’s Code Harbor™ solution, the solution helps enterprises streamline their transition from SAS to Databricks to support enhanced cloud modernization initiatives. EXL has also achieved Select partner status with Databricks to accelerate the development of new AI and GenAI solutions within the Databricks ecosystem.
EXL’s Code Harbor is a GenAI-enabled solution that facilitates the migration of legacy codebases into the modern open-source languages and cloud environments like Databricks Lakehouse. EXL has refined the solution to automate key aspects of SAS to Databricks migration, significantly reducing manual effort while facilitating high-quality code transformation. EXL Code Harbor is designed for multi-industry usage across insurance, banking and healthcare where SAS has traditionally maintained a strong presence. In addition to SAS, the solution also supports migration and assessment of other languages including BTEQ, HQL, PL/SQL, SQL Server and R, in addition to ETL platforms such as Informatica, Alteryx and DataStage. Clients using EXL Code Harbor benefit from EXL's deep domain expertise and advanced AI capabilities while retaining the flexibility to integrate with on-premises, cloud and hybrid environments.
A leading global insurance provider recently partnered with EXL to migrate its extensive SAS codebase to the Databricks Data Intelligence Platform using Code Harbor. The client achieved 50% faster migration with minimal manual intervention, improved compliance through comprehensive metadata documentation and drove integration with their governance frameworks.
“The biggest challenge enterprises face when migrating from legacy systems is the time, cost and complexity involved in transforming extensive codebases,” said Anand “Andy” Logani, EXL’s chief digital and AI officer. “By providing an intelligent automation solution with embedded AI agents, clients can now accelerate their migration timelines by up to 50% while reducing manual efforts by 70-80%.”
Unlike traditional migration approaches that rely heavily on manual processes, EXL Code Harbor utilizes an autonomous multi-agent framework to accelerate enterprise-scale code and data transformation. Leveraging Databricks’ Unity Catalog and governance layer, the SAS to Databricks solution accelerator ensures enterprise-grade discoverability, traceability and compliance across every annotation asset. By automating the manual effort involved in assessing, writing and optimizing code, the solution transforms the entire migration process, leading to faster delivery, reduced costs and improved accuracy.
More information about EXL Code Harbor can be found 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 60,000 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 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
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Keith Little
+1 703-598-0980
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Investor Relations
John Kristoff
+1 212 209 4613
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