Persistent Systems Ltd. share price target

We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,450, as we expect strong earnings growth over FY2021-23E. Q2 numbers beat estimates on all fronts; deal signings remained strong for all...

We initiate coverage on Persistent Systems Ltd (Persistent) with a BUY rating and target Price of Rs 1,580 valuing at 21x to its FY23E EPS .

Among mid-tier companies, PSL clocked strongest revenue growth given its exposure to less-impacted verticals such as BFSI, technology and healthcare Growth momentum in technology services would continue beyond FY21E led...

In a surprising development, Persistent System's (PSYS) CEO Christopher O'Connor has resigned after a short stint of 1.5 years.

Background: Persistent Systems Limited offers complete product life cycle services. The Company's segments include Infrastructure and Systems, Telecom and Wireless, Life science and Healthcare, and Financial Services. The Company's products include Connected Healthcare, which is an integrated healthcare ecosystem; ShareInsights Platform, which allows organizations to analyze an overlay of enterprise data with public or cloud sources to derive insights; Digital Banking, and Accelerite, which provides cloud solutions, endpoint management and mobility. The Company provides product engineering services, platform-based solutions and...

Persistent reported healthy Q1FY21 numbers. The company reported positive QoQ growth (up 3.1% QoQ) in dollar revenues vs. QoQ decline in revenues across other IT companies. Further, the EBITDA margin increased 100 bps to 14.8% (including one-time Covid related donation of | 7.4 crore)....

Persistent System's Profit for the quarter grew by 9.1%YoY/7.4% QoQ to Rs 900 Mn during Q1FY21. Consolidated revenue stood at Rs 9,914 Mn for Q1FY21 vs 8,321 for the Q1FY20 registering growth of 19.1%YoY/7.0%QoQ. Strong YoY and QoQ growth in Q1 was led by BFSI as it continues to be a standout. Reported EBITDA was up by 21.3%YoY/14.9% QoQ to Rs 1,458 Mn, as compared to Rs 1,202 Mn,...

Persistent Systems (PSYS) reported a surprisingly strong set of numbers, with Q1 dollar revenue growth at 3.1% QoQ.

Background: Persistent Systems is one of the leading outsourced product development (OPD) companies in India. 4QFY20: Revenue from business offering mix: Services (83.7%) & IP led business (16.3%). The company has industry expertise in ISV (41.7%), Enterprise (42%) and IP Led (16.3%). The company's business is spread across North America (80.2%), Europe (8.8%), and RoW (11%).Company earns revenue from global delivery centers (33%), India (50.7%) and IP Led (16.3%). Total active clients stood at 1000+ including services and IP led business. Company's top client accounts 19.2% in revenues, top 5 (41.5%) and top 10 (49.9%)....

Persistent Systems Limited (PSL) delivered a steady performance in a tough environment, with better-than-expected performance in both revenue and operating profitability. USD revenue came at $127.1 million (ahead of our modest expectations), down by 1.8% q-o-q, attributed to significant 24.3% q-o-q decline in IP-led revenue due to weak seasonality and lower revenue re-seller business because of COVID-19 outbreak. However, the sharp decline in IP revenue was partially offset by 3.8% q-o-q growth in Technology Services Unit (TSU, 73.7% of total revenue), driven by strong 7% q-o-q growth in digital revenue. EBITDA margin improved by 41 bps q-o-q...