Buy Persistent Systems, price target Rs 744: Dharmesh Shah

Dharmesh Shah of ICICI Direct has a buy call on Persistent Systems Ltd. with a target price of Rs 744.0 . The current price of Persistent Systems Ltd. is Rs 700.45 . Dharmesh Shah recommended to keep a stoploss at Rs 678 .

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 5353.19 Crore) operating in IT Software sector.

Persistent Systems Ltd. key Products/Revenue Segments include Software Services which contributed Rs 1916.37 Crore to Sales Value (97.78 % of Total Sales) and Software Licence which contributed Rs 43.50 Crore to Sales Value (2.21 % of Total Sales)for the year ending 31-Mar-2019.


For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 884.60 Crore, up 6.31 % from last quarter Sales of Rs 832.11 Crore and up 5.87 % from last year same quarter Sales of Rs 835.56 Crore Company has reported net profit after tax of Rs 86.07 Crore in latest quarter.

The company’s top management includes Dr.Anand Deshpande, Dr.Anant Jhingran, Mr.Christopher O Connor, Mr.Guy Eiferman, Mr.Kiran Umrootkar, Mr.Pradeep Bhargava, Mr.Prakash Telang, Mr.Sandeep Kalra, Mr.Sunil Sapre, Mr.Thomas Kendra, Ms.Roshini Bakshi, Prof.Deepak Phatak. Company has Walker Chandiok & Co. LLP as its auditoRs As on 31-12-2019, the company has a total of 76,425,000 shares outstanding.