Buy Persistent Systems, target price Rs 5600: HDFC Securities

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

By ETMarkets.com | Updated: Mar 29, 2023, 10.31 AM IST

Promoters held 31.26 per cent stake in the company as of 31-Dec-2022, while FIIs owned 20.29 per cent, DIIs 26.4 per cent.

HDFC Securities has buy call on Persistent Systems with a target price of Rs 5600. The current market price of Persistent Systems is Rs 4410.25.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 33577.71 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 31-12-2022, the company reported a Consolidated Total Income of Rs 2202.12 Crore, up 7.07 % from last quarter Total Income of Rs 2056.70 Crore and up 44.65 % from last year same quarter Total Income of Rs 1522.38 Crore. Company reported net profit after tax of Rs 237.95 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 31.26 per cent stake in the company as of 31-Dec-2022, while FIIs owned 20.29 per cent, DIIs 26.4 per cent.

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