Buy Persistent Systems, target price Rs 4200: JM Financial

JM Financial has buy call on Persistent Systems with a target price of Rs 4200. The current market price of Persistent Systems Ltd. is Rs 3701.1. Time period given by analyst is one year when Persistent Systems Ltd. price can reach defined target.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 28764.08 Crore) operating in IT Software sector.

Persistent Systems Ltd. key Products/Revenue Segments include Software Services and Software Licence for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1899.09 Crore, up 13.05 % from last quarter Total Income of Rs 1679.93 Crore and up 49.68 % from last year same quarter Total Income of Rs 1268.73 Crore. Company reported net profit after tax of Rs 211.61 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.26 per cent stake in the company as of 30-Jun-2022, while FIIs owned 20.45 per cent, DIIs 25.94 per cent.