I agree that there is lot of noise but there are some genuine stories as well. Cambridge, Kellton and 8k miles are services play but I doubt they will be sustainable value creators over the very long term. There are many ways to skin the cat and I think playing it through product companies is a safer idea.
Insurance vertical : Majesco
Healthcare vertical: Take Solutions (not quite a cloud player)
Horizontals: Ramco (still doing my work)
Pure Services: Cambridge, Kellton, 8K, Sonata etc
I would love to play it through deep domain experts in stable industries along with high growth services players. I was pleasantly surprised to see BM endorsing this strategy in his recent interview.
Disc: Bought Majesco and Take in the recent corrections and continue to hold Cambridge and Kellton. Cambridge is a hope and faith play while I am still not fully convinced with Kellton’s model. without full history these pure plays will remain punts for some more time.