Buy Persistent Systems, target price Rs 4600: Emkay Global

Emkay Global has buy call on Persistent Systems Ltd. with a target price of Rs 4600. The current market price of Persistent Systems is Rs 3843.75. 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 30261.63 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-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1522.38 Crore, up 10.03 % from last quarter Total Income of Rs 1383.66 Crore and up 37.72 % from last year same quarter Total Income of Rs 1105.41 Crore. Company reported net profit after tax of Rs 176.40 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 31.26 per cent stake in the company as of 31-Dec-2021, while FIIs owned 19.92 per cent, DIIs 26.87 per cent.