Buy Persistent Systems, target price Rs 4350: Axis Securities

Axis Securities has buy call on Persistent Systems with a target price of Rs 4350. The current market price of Persistent Systems is Rs 3521.6.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 26953.36 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-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2621.31 Crore, up 3.34 % from last quarter Total Income of Rs 2536.53 Crore and up 15.82 % from last year same quarter Total Income of Rs 2263.30 Crore. Company reported net profit after tax of Rs 315.32 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.02 per cent stake in the company as of 31-Mar-2024, while FIIs owned 24.96 per cent, DIIs 25.87 per cent.