Will AI Present Opportunities for WNS (Holdings) Limited (WNS)?
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter of 2023, markets were positive, and the US stocks rose over 8% (as measured by the Russell 3000 Index). The portfolio outperformed Russell 2000 Index in Q2 and returned 6.34%, bringing the YTD gains to 13.05%. Financial and consumer discretionary holdings were the source of relative strength in the quarter while the relative weakness came from consumer staples holdings and below-benchmark exposure to the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like WNS (Holdings) Limited (NYSE:WNS) in the second quarter 2023 investor letter. Headquartered in Mumbai, India, WNS (Holdings) Limited (NYSE:WNS) is a business process management company. On July 31, 2023, WNS (Holdings) Limited (NYSE:WNS) stock closed at $69.11 per share. One-month return of WNS (Holdings) Limited (NYSE:WNS) was 5.91%, and its shares lost 20.16% of their value over the last 52 weeks. WNS (Holdings) Limited (NYSE:WNS) has a market capitalization of $3.273 billion.
Diamond Hill Small Cap Fund made the following comment about WNS (Holdings) Limited (NYSE:WNS) in its second quarter 2023 investor letter:
"Other bottom contributors in Q2 included First Interstate BancSystem, Taseko Mines and WNS (Holdings) Limited (NYSE:WNS). India-based business process management (BPM) services company WNS weakened as investors contemplated whether artificial intelligence (AI) could disrupt the company’s BPM solutions. However, we do not believe AI will be a major threat to the company’s value proposition given its BPM expertise. On the contrary, we anticipate AI may present opportunities for WNS to implement AI-related solutions on behalf of its clients and prospects."
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WNS (Holdings) Limited (NYSE:WNS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held WNS (Holdings) Limited (NYSE:WNS) at the end of first quarter which was 19 in the previous quarter.
We discussed WNS (Holdings) Limited (NYSE:WNS) in another article and shared the list of best Indian stocks for the next decade. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
