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    Nate Stephenson

    Director and Equity Research Analyst at Deutsche Bank

    Nate Stephenson is a Director and Equity Research Analyst at Deutsche Bank, specializing in the U.S. Financial Services and FinTech sectors with an emphasis on major payment processors and data analytics firms. He covers high-profile companies including Visa, Mastercard, Fiserv, FIS, and Global Payments, and has been recognized for an above-average stock-picking track record, with a TipRanks success rate exceeding 60% and double-digit annualized returns for his buy-side recommendations. Nate began his career at J.P. Morgan as an associate analyst in 2011, moving to Citigroup before joining Deutsche Bank in 2018, where he advanced to his current role. He holds FINRA Series 7, 63, and 86/87 licenses as well as a CFA designation, and is noted for delivering differentiated insight and investor value in the payments and financial technology space.

    Nate Stephenson's questions to WNS (HOLDINGS) (WNS) leadership

    Nate Stephenson's questions to WNS (HOLDINGS) (WNS) leadership • Q1 2025

    Question

    Nate Stephenson from Deutsche Bank asked for an update on volume trends in the insurance vertical, particularly concerning clients exiting certain geographies, and the progress on the large insurance captive opportunity. He also inquired about the cadence of the share buyback and the overall capital allocation strategy, including M&A.

    Answer

    Executive David Mackey explained that insurance volumes were impacted by clients exiting unprofitable U.S. states and a strategic shift by a U.K. client, but he expects the vertical to be a growth engine going forward. He confirmed the large insurance captive opportunity is not in the guidance but remains a significant potential upside. An executive stated the current buyback program should conclude by Q2. CEO Keshav Murugesh reiterated that M&A remains a core pillar, along with share repurchases, CapEx, and debt repayment, expressing confidence that the stock is underpriced.

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