Buy Persistent Systems, target price Rs 5000: Emkay

Emkay Global Financial Services has a buy call on Persistent Systems Ltd. with a target price of Rs 5000. The current price of Persistent Systems is Rs 4173.6.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid-Cap company (with a market cap of Rs 31912.41 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 30-09-2021, the company has reported a Consolidated Total Income of Rs 1383.66 Crore, up 9.06 per cent from last quarter Total Income of Rs 1268.73 Crore and up 35.09 per cent from last year same quarter Total Income of Rs 1024.24 Crore. Company has reported net profit after tax of Rs 161.75 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 31.26 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.3 per cent, DIIs 27.87 per cent.