Persistent systems share price NSE is showing bullish chart patterns. Persistent systems are one of the best companies to invest in right now. Technical analysis of the stock is reflecting bullish price momentum with strong volume. Fundamentally, it is a good company to invest in for the medium to long-term. The medium-term persistent systems share price target can be 5000. In the long term, the persistent systems share price target will be 6000 in 2025. Check the persistent systems share price moneycontrol to get the current price.
The stock has given a break out with a golden crossover pattern in the daily chart at about 3900 level which is eventually its previous swing high. The share price of Persistent Systems is trading above the previous swing high and ready to move up for a 25% move. Buy at every dip, below the 4200 level is a good buy for the share price of Persistent Systems. The IT sector is expected to perform well in 2023 with the recovery of the US and European countries.
Persistent Systems share price (Persistent) looks strong in its technical chart with strong trading volume over the last few trading sessions. The trading volume of the script is above 100 DMA during this period. It seems the counter is ready to move up sharply. The share price of Persistent Systems in NSE is crossed above its previous swing high at the 3900 level.
The share price of Persistent Systems will reach 4900 without any resistance. Buy at this level or in a retracement of the stock to gain max. Once Persistent Systems share price crossed the previous swing high at the 4900 level with strong volume, it will reach its new all-time high. The market cap of Persistent Systems is INR33,209 crore and the face value of the Persistent Systems share is INR 10.
On the weekly chart, the persistent systems share price is also looking strong with strong volume over the last few weeks. Looking at both the monthly and weekly chart of the Persistent Systems share price is in a bullish trend for both short- and long-term investments at this level. For the short to medium term, Persistent Systems share price target in 2023 can be above 5000.
Momentum indicators RSI, ADX, and MACD of Persistent systems share price are looking bullish on the daily chart. One may buy on dips for a 10 to 20% gain in the short term. Persistent Systems share price is trading at 41 Price to Earnings (PE). The stock has 26.3% ROCE and 21.5% ROE. Zero-debt company with a debt-to-equity ratio is 0.13 in FY22. The fundamentals of the company with a low debt-to-equity ratio make it attractive.
Persistent systems Business Description – The company is a leading multinational IT company from India. Persistent Systems is a dependable partner in digital engineering and enterprise modernization, combining in-depth technical know-how with practical experience to assist clients in predicting the future and taking appropriate action.
Persistent Systems is present across the world with over 22000 employees working worldwide. The company has collaborated with several market-leading companies in 18 different countries, including 14 of the 30 most creative US businesses.
- Persistent systems registered a strong revenue growth of over 40% YoY in Q2 FY23 reached $255.6M with QoQ growth of 5.8%.
- The company crossed $1 billion in annualized revenue run rate and INR 2,000 crore in quarterly revenue.
- Over 78% of the revenue comes from the Americas while 11.5% is from India and 8.3% is from Europe.
- Strong Total Contract Value (TCV) Booking of $368MQ2FY23.
- As per the latest presentation, Persistent systems reported strong YoY PAT Growth of over 36% in Q2FY2023 to reach INR 2,200.14 million.
- Persistent Systems mainly focuses on Banking, Financial Services & Insurance, Healthcare & Life Sciences industries, and Software, Hi-Tech, and Emerging Industries.
- The company is expanding through partnership as a strategy. 8 of the 10 Largest Banks in both US & India are partners of the company.
- In November 2022, Software AG and Persistent Systems partnered to deliver innovative industry solutions for the connected enterprise.
- In October 2022, partnered with Google cloud, Persistent Systems launches innovative Cyber Recovery Solution.
- Operating margins continued to improve driven by the increase in international EP projects and execution pace.
- Delivering consistent growth in revenue and margins. The company registered a revenue growth of 23.5% CAGR between FY20 to FY22.
- Over the last three years, the share price of Persistent Systems has given a return of 478% with a dividend of 11.2%.
- Strong promoters and management team.
- Dr. Anand Deshpande is the Founder, Chairman, and Managing Director of the company.
- Sandeep Kalra is the Chief Executive Officer and Executive Director
- The company is good for both long-term as well as short-term investment. Once can also invest in the company for dividend income as well.
- These factors will help the share price of Persistent Systems to go upward in 2023.
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