EXLSNasdaqServices-Business Services, NECFiscal year ends December 31
ExlService Holdings, Inc.
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 28, 2026
$39.76+0.24 (+0.62%)
Close on Oct 19, 2026
- Market cap
- $6.24B
- P/E (TTM)
- 25.3
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
155M of 152M shares
Institutional holders
442
65 new, 78 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
0 buys · 13 sales
Net sold $2.74M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| FMR LLC | 9,364,312 | 5.80% | 13G (passive) | Dec 31, 2024 |
| Vanguard Capital Management | 7,937,714 | 5.07% | 13G (passive) | Mar 31, 2026 |
| Abigail P. Johnson | 18,225,635 | 12.00% | 13G (passive) amendment | Sep 30, 2026 |
| BlackRock, Inc. | 15,437,315 | 9.50% | 13G (passive) amendment | Jun 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of EXLS | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 18,885,133 | 12.46% | $488.37M | −233,475 | 0.01% |
| FMR LLC | 13,885,274 | 9.16% | $359.07M | +479,560 | 0.02% |
| Aqr Capital Management LLC | 6,812,609 | 4.49% | $171.47M | −3,063,689 | 0.06% |
| Vanguard Capital Management LLC | 6,645,767 | 4.38% | $171.86M | −92,013 | 0.00% |
| Vanguard Portfolio Management LLC | 6,481,862 | 4.28% | $167.62M | −22,671 | 0.01% |
| State Street Corp | 4,869,434 | 3.21% | $125.92M | +78,759 | 0.00% |
| Geode Capital Management, LLC | 4,071,771 | 2.69% | $105.31M | −145,993 | 0.01% |
| Two Sigma Investments, LP | 4,021,556 | 2.65% | $104.00M | +311,924 | 0.08% |
| Geneva Capital Management LLC | 3,437,491 | 2.27% | $88.89M | −819,600 | 2.04% |
| D. E. Shaw & Co., Inc. | 3,255,149 | 2.15% | $84.18M | −187,290 | 0.04% |
| Citadel Advisors LLC | 3,202,977 | 2.11% | $82.83M | +1,858,630 | 0.01% |
| Dimensional Fund Advisors LP | 2,913,971 | 1.92% | $75.35M | +61,324 | 0.01% |
| Norges Bank | 2,835,901 | 1.87% | $73.34M | New | 0.01% |
| Morgan Stanley | 2,608,478 | 1.72% | $67.46M | +111,843 | 0.00% |
| JPMorgan Chase & Co | 2,294,741 | 1.51% | $58.86M | −1,534,306 | 0.00% |
| Fuller & Thaler Asset Management, Inc. | 2,242,801 | 1.48% | $58.00M | +84,473 | 0.16% |
| UBS Group AG | 2,137,801 | 1.41% | $55.28M | +1,148,754 | 0.01% |
| Millennium Management LLC | 2,039,999 | 1.35% | $52.75M | −155,323 | 0.02% |
| Qube Research & Technologies Ltd | 1,943,191 | 1.28% | $50.25M | +1,124,537 | 0.05% |
| Charles Schwab Investment Management Inc | 1,940,480 | 1.28% | $50.18M | −42,188 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 442 | 155M | 100.0% | 65 / 143 | 192 / 78 | 25M | 22M |
| Q1 2026 | 463 | 153M | 100.0% | 88 / 202 | 136 / 85 | 41M | 30M |
| Q4 2025 | 466 | 156M | 100.0% | 70 / 166 | 188 / 58 | 21M | 23M |
| Q3 2025 | 465 | 159M | 100.0% | 79 / 176 | 165 / 70 | 25M | 23M |
| Q2 2025 | 460 | 156M | 100.0% | 75 / 165 | 168 / 65 | 24M | 25M |
| Q1 2025 | 455 | 158M | 100.0% | 76 / 170 | 152 / 33 | 16M | 19M |
| Q4 2024 | 415 | 162M | 100.0% | 86 / 142 | 136 / 26 | 18M | 12M |
| Q3 2024 | 362 | 157M | 100.0% | 58 / 136 | 124 / 38 | 33M | 11M |
| Q2 2024 | 346 | 159M | 100.0% | 50 / 136 | 122 / 38 | 11M | 17M |
| Q1 2024 | 338 | 166M | 100.0% | 40 / 136 | 120 / 38 | 12M | 7M |
| Q4 2023 | 337 | 161M | 100.0% | 44 / 135 | 125 / 31 | 19M | 14M |
| Q3 2023 | 329 | 156M | 100.0% | 39 / 280 | 10 / 41 | 126M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of EXLS | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Mid-Cap ETF | 5,223,641 | 3.45% | $135.08M | 0.11% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 4,609,400 | 3.04% | $119.20M | 0.01% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 3,330,129 | 2.20% | $86.12M | 0.05% | Jun 30, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 2,798,794 | 1.85% | $81.25M | 0.03% | May 31, 2026 |
| Fidelity Series Value Discovery Fund | 2,371,400 | 1.56% | $80.46M | 0.45% | Jul 31, 2026 |
| Fullerthaler Behavioral Small Cap Equity | 2,140,256 | 1.41% | $55.35M | 0.44% | Jun 30, 2026 |
| Vanguard Small-Cap Growth Index Fund | 1,909,372 | 1.26% | $49.38M | 0.11% | Jun 30, 2026 |
| Fidelity Value Fund | 1,859,300 | 1.23% | $63.09M | 0.60% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 1,751,391 | 1.16% | $45.29M | 0.05% | Jun 30, 2026 |
| Invesco S&P MidCap Quality ETF | 1,139,474 | 0.75% | $38.66M | 0.71% | Jul 31, 2026 |
| Touchstone Strategic Trust-Touchstone Small Company Fund | 1,129,686 | 0.75% | $29.21M | 1.70% | Jun 30, 2026 |
| Nomura Small Cap Core Fund | 1,088,491 | 0.72% | $31.60M | 0.57% | May 29, 2026 |
| AQR Long-Short Equity Fund | 1,008,788 | 0.67% | $26.09M | 0.33% | Jun 30, 2026 |
| BlackRock Advantage Small Cap Core Fund | 932,056 | 0.61% | $27.06M | 0.51% | May 29, 2026 |
| iShares S&P Mid-Cap 400 Growth ETF | 912,175 | 0.60% | $23.59M | 0.21% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Rohit Kapoor | Chairman & CEO, Director | 1,742,214 | 1.15% | Jun 17, 2026 |
| Vikas Bhalla | President of EXL | 120,295 | 0.08% | Sep 3, 2026 |
| Vishal Chhibbar | Executive Vice President | 6,452 | 0.00% | Aug 13, 2026 |
| Maurizio Nicolelli | Executive Vice President & CFO | 254,975 | 0.17% | Jul 21, 2026 |
| Narasimha Kini | Executive Vice President | 212,354 | 0.14% | Jul 21, 2026 |
| Vivek Jetley | President of EXL | 426,780 | 0.28% | Jul 21, 2026 |
| Ajay Ayyappan | EVP & Gen Counsel/Corp. Sec'y. | 48,994 | 0.03% | May 22, 2026 |
| Bhupender Singh | Pres., Int'l Growth Markets | – | – | May 13, 2026 |
| Pamela M. Harrison | CHIEF HUMAN RESOURCES OFFICER | 8,414 | 0.01% | Mar 3, 2026 |
| Anita Mahon | Executive Vice President | 94,443 | 0.06% | Mar 13, 2025 |
| Kamini H. Mehta | Director | – | – | Jul 20, 2026 |
| Thomas A. Bartlett | Director | – | – | Jun 18, 2026 |
| Vikram S. Pandit | Director | 0 | – | Jun 18, 2026 |
| Andreas Fibig | Director | 600 | 0.00% | Jun 18, 2026 |
| Sarah K. Williamson | Director | 0 | – | Jun 18, 2026 |
| Kristy Pipes | Director | – | – | Jun 18, 2026 |
| Patrick Geraghty | Director | – | – | Jun 18, 2026 |
| Michael J. Angelakis | Director | – | – | Dec 15, 2025 |
| Atairos Partners GP, Inc. | Director | – | – | Dec 15, 2025 |
| Echo LLC Orogen | Director | – | – | Dec 15, 2025 |
| Group LLC Orogen | Director | – | – | Dec 15, 2025 |
| Atairos-Orogen Holdings, LLC | Director | – | – | Dec 15, 2025 |
| Holdings LLC Orogen | Director | – | – | Dec 15, 2025 |
| Atairos Partners, L.P. | Director | – | – | Dec 15, 2025 |
| Atairos Group, Inc. | Director | 310,394 | 0.20% | Dec 15, 2025 |
| Nitin Sahney | Director | – | – | Jun 20, 2025 |
| Jaynie M. Studenmund | Director | 0 | – | May 6, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Vikas Bhalla President of EXL | Sep 1, 2026 | Sale(10b5-1 plan) | −10,000 | $38.17 | $381.70K | 120,295 |
| Vishal Chhibbar Executive Vice President | Aug 11, 2026 | Sale | −5,000 | $35.10 | $175.50K | 6,452 |
| Vikas Bhalla President of EXL | Aug 3, 2026 | Sale(10b5-1 plan) | −11,000 | $34.99 | $384.89K | 130,295 |
| Vikas Bhalla President of EXL | Jul 1, 2026 | Sale(10b5-1 plan) | −12,000 | $26.47 | $317.64K | 141,295 |
| Narasimha Kini Executive Vice President | Jun 30, 2026 | Award | +606 | $23.27 | $14.10K | 212,354 |
| Maurizio Nicolelli Executive Vice President & CFO | Jun 30, 2026 | Award | +606 | $23.27 | $14.10K | 254,975 |
| Vivek Jetley President of EXL | Jun 30, 2026 | Award | +606 | $23.27 | $14.10K | 426,780 |
| Rohit Kapoor Chairman & CEO, Director | Jun 15, 2026 | Other | +865,000 | – | – | 865,000 |
| Rohit Kapoor Chairman & CEO, Director | Jun 15, 2026 | Other | −865,000 | – | – | 457,214 |
| Vikas Bhalla President of EXL | Jun 4, 2026 | Sale(10b5-1 plan) | −12,000 | $30.22 | $362.64K | 153,295 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | May 20, 2026 | Sale(10b5-1 plan) | −5,093 | $29.11 | $148.26K | 48,994 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Mar 2, 2026 | Sale(10b5-1 plan) | −1,679 | $30.39 | $51.02K | 54,087 |
| Rohit Kapoor Chairman & CEO, Director | Feb 28, 2026 | Option exercise | +33,525 | – | – | 1,322,214 |
| Narasimha Kini Executive Vice President | Feb 27, 2026 | Tax withholding | −2,853 | $30.99 | $88.41K | 211,748 |
| Narasimha Kini Executive Vice President | Feb 27, 2026 | Option exercise | +5,587 | – | – | 214,601 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 27, 2026 | Option exercise | +3,991 | – | – | 57,892 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 27, 2026 | Tax withholding | −2,126 | $30.99 | $65.88K | 55,766 |
| Maurizio Nicolelli Executive Vice President & CFO | Feb 27, 2026 | Tax withholding | −2,199 | $30.99 | $68.15K | 254,369 |
| Maurizio Nicolelli Executive Vice President & CFO | Feb 27, 2026 | Option exercise | +5,587 | – | – | 256,568 |
| Vivek Jetley President of EXL | Feb 27, 2026 | Option exercise | +9,579 | – | – | 431,472 |
| Vivek Jetley President of EXL | Feb 27, 2026 | Tax withholding | −5,298 | $30.99 | $164.19K | 426,174 |
| Vikas Bhalla President of EXL | Feb 27, 2026 | Option exercise | +9,579 | – | – | 169,031 |
| Vikas Bhalla President of EXL | Feb 27, 2026 | Tax withholding | −3,736 | $30.99 | $115.78K | 165,295 |
| Pamela M. Harrison CHIEF HUMAN RESOURCES OFFICER | Feb 27, 2026 | Option exercise | +4,151 | – | – | 8,414 |
| Pamela M. Harrison CHIEF HUMAN RESOURCES OFFICER | Feb 27, 2026 | Tax withholding | −2,159 | $30.99 | $66.91K | 6,255 |
| Vishal Chhibbar Executive Vice President | Feb 27, 2026 | Tax withholding | −3,088 | $30.99 | $95.70K | 11,452 |
| Vishal Chhibbar Executive Vice President | Feb 27, 2026 | Option exercise | +5,587 | – | – | 14,540 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 23, 2026 | Sale(10b5-1 plan) | −1,197 | $29.79 | $35.66K | 53,901 |
| Vikas Bhalla President of EXL | Feb 20, 2026 | Option exercise | +6,849 | – | – | 162,124 |
| Vikas Bhalla President of EXL | Feb 20, 2026 | Tax withholding | −2,672 | $30.41 | $81.26K | 159,452 |
| Vishal Chhibbar Executive Vice President | Feb 20, 2026 | Option exercise | +4,004 | – | – | 11,380 |
| Vishal Chhibbar Executive Vice President | Feb 20, 2026 | Tax withholding | −2,427 | $30.41 | $73.81K | 8,953 |
| Pamela M. Harrison CHIEF HUMAN RESOURCES OFFICER | Feb 20, 2026 | Tax withholding | −1,630 | $30.41 | $49.57K | 4,263 |
| Pamela M. Harrison CHIEF HUMAN RESOURCES OFFICER | Feb 20, 2026 | Option exercise | +3,161 | – | – | 5,893 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 20, 2026 | Option exercise | +2,845 | – | – | 56,613 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 20, 2026 | Tax withholding | −1,515 | $30.41 | $46.07K | 55,098 |
| Maurizio Nicolelli Executive Vice President & CFO | Feb 20, 2026 | Option exercise | +4,215 | – | – | 252,640 |
| Maurizio Nicolelli Executive Vice President & CFO | Feb 20, 2026 | Tax withholding | −1,659 | $30.41 | $50.45K | 250,981 |
| Narasimha Kini Executive Vice President | Feb 20, 2026 | Tax withholding | −2,152 | $30.41 | $65.44K | 209,014 |
| Narasimha Kini Executive Vice President | Feb 20, 2026 | Option exercise | +4,215 | – | – | 211,166 |
| Vivek Jetley President of EXL | Feb 20, 2026 | Tax withholding | −3,788 | $30.41 | $115.19K | 421,893 |
| Vivek Jetley President of EXL | Feb 20, 2026 | Option exercise | +6,849 | – | – | 425,681 |
| Rohit Kapoor Chairman & CEO, Director | Feb 20, 2026 | Option exercise | +24,236 | – | – | 1,288,689 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 18, 2026 | Sale(10b5-1 plan) | −1,049 | $30.32 | $31.81K | 53,768 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 18, 2026 | Sale(10b5-1 plan) | −1,226 | $30.32 | $37.17K | 54,817 |
| Vikas Bhalla President of EXL | Feb 17, 2026 | Tax withholding | −2,120 | $30.04 | $63.68K | 152,591 |
| Vikas Bhalla President of EXL | Feb 17, 2026 | Option exercise | +5,435 | – | – | 154,711 |
| Vikas Bhalla President of EXL | Feb 17, 2026 | Option exercise | +4,400 | – | – | 156,991 |
| Vikas Bhalla President of EXL | Feb 17, 2026 | Tax withholding | −1,716 | $30.04 | $51.55K | 155,275 |
| Narasimha Kini Executive Vice President | Feb 17, 2026 | Tax withholding | −1,685 | $30.04 | $50.62K | 205,370 |
| Narasimha Kini Executive Vice President | Feb 17, 2026 | Option exercise | +3,300 | – | – | 207,055 |
| Narasimha Kini Executive Vice President | Feb 17, 2026 | Tax withholding | −1,649 | $30.04 | $49.54K | 206,951 |
| Narasimha Kini Executive Vice President | Feb 17, 2026 | Option exercise | +3,230 | – | – | 208,600 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 17, 2026 | Tax withholding | −1,329 | $30.04 | $39.92K | 56,043 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 17, 2026 | Option exercise | +2,495 | – | – | 57,372 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 17, 2026 | Tax withholding | −1,553 | $30.04 | $46.65K | 54,877 |
| Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y. | Feb 17, 2026 | Option exercise | +2,915 | – | – | 56,430 |
| Vivek Jetley President of EXL | Feb 17, 2026 | Tax withholding | −2,793 | $30.04 | $83.90K | 416,866 |
| Vivek Jetley President of EXL | Feb 17, 2026 | Option exercise | +4,400 | – | – | 421,266 |
| Vivek Jetley President of EXL | Feb 17, 2026 | Tax withholding | −2,434 | $30.04 | $73.12K | 418,832 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Vikas Bhalla Officer | Oct 1, 2026 | 11,000 | $389.18K | Oct 1, 2026 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Sep 1, 2026 | 10,000 | $381.70K | Sep 1, 2026 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Aug 3, 2026 | 11,000 | $384.89K | Aug 3, 2026 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Jul 1, 2026 | 12,000 | $317.64K | Jul 1, 2026 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Jun 4, 2026 | 12,000 | $362.64K | Jun 4, 2026 | Restricted Stock Vesting |
| Ajay Ayyappan Officer | May 20, 2026 | 5,093 | $148.26K | May 20, 2026 | Restricted Stock Vesting |
| Ajay Ayyappan Officer | Mar 2, 2026 | 1,679 | $51.02K | Mar 2, 2026 | Restricted Stock Vesting |
| Ajay Ayyappan Officer | Feb 23, 2026 | 1,197 | $35.66K | Feb 23, 2026 | Restricted Stock Vesting |
| Ajay Ayyappan Officer | Feb 18, 2026 | 2,275 | $68.98K | Feb 18, 2026 | Restricted Stock Vesting |
| Ajay Ayyappan Officer | Jan 27, 2026 | 8,114 | $345.09K | Jan 27, 2026 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Dec 2, 2025 | 11,774 | $470.84K | Dec 2, 2025 | Restricted Stock Vesting |
| Vikas Bhalla Officer | Sep 10, 2025 | 8,000 | $350.08K | Sep 10, 2025 | Restricted Stock Vesting |
| Vikas Bhalla Officer | May 8, 2025 | 25,000 | $1.15M | May 8, 2025 | Restricted Stock Vesting |
| M. Studenmund Jaynie Director | May 2, 2025 | 14,580 | $675.20K | May 2, 2025 | Acquired from public market |
| Anita Mahon Officer | Apr 15, 2025 | 12,360 | $562.50K | Apr 15, 2025 | Restricted Stock Vesting |