The company has shifted its business model from services to now selling IP plus services, said Anand Deshpande, Founder, MD & CEO, Persistent Systems .
Morgan Stanley India Investment Fund Inc bought 6,59,575 shares of Persistent Systems at Rs 676.66 and Morgan Stanley Invest Fds Indian EQ Fund bought 6,58,852 shares at Rs 676.66 on the NSE.
While India’s large pre-internet era companies are grappling to transform their revenue models, which are stuck on effort-based billing Anand Deshpande, founder and chairman of Persistent Systems, believes the game is over for that kind of model.
In a free-wheeling conversation with Moneycontrol, the founder and chairman of Persistent Systems, Dr Anand Deshpande, talks about the challenges facing tech companies and what it has taken him to move 50% of his company’s revenues away from effort-based billing.
Sharmila Joshi of sharmilajoshi.com is of the view that one may stay invested in Persistent Systems.
Mitessh Thakkar of mitsshthakkar.com advises selling Sell Bajaj Auto and Andhra Bank.
Kunal Saraogi of Equityrush is of the view that one may buy Motherson Sumi Systems with a target of Rs 490.
Persistent Systems has hired 1000 people in the US in recent times and they have 400-500 people in its development centres in the non-US markets.
Axis Direct is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 697 in its research report dated May 04, 2017.
Arihant Capital has recommended accumulate rating on Persistent System with a target price of Rs 657 in its research report dated April 26, 2017.
Vishal Malkan of malkansview.com is of the view that one may buy Indian Bank with a target of Rs 330.
ICICI Direct is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 700 in its research report dated April 27, 2017.
KR Choksey is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 828 in its research report dated April 26, 2017.
Edelweiss is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 723 in its research report dated April 25, 2017.
Motilal Oswal is bullish on Persistent Systems has recommended buy rating on the stock with a target price of Rs 700 in its research report dated April 25, 2017.
In an interview to CNBC-TV18, Anand Deshpande, Founder, MD & CEO of Persistent Systems spoke about the results and his outlook for the company.
IT firm Persistent Systems today reported a marginal drop in its consolidated net profit at Rs 72.7 crore for the fourth quarter ended March.
Operating profit may drop to Rs 117.5 crore from Rs 118.6 crore and margin may shrink to 15.8 percent from 15.9 percent on sequential basis.
Rising geopolitical concerns amid mixed bag results from India Inc. capped upside for the markets as Nifty50 closed 0.34 percent lower for the week ended 21 April. Coming week unlikely to be any different as D-Street await results from index heavyweights.
Net Sales are expected to increase by 2 percent Q-o-Q (up 13 percent Y-o-Y) to Rs 762.9 crore, according to KR Choksey. Persistent Systems to report net profit at 81 crore down 1% quarter-on-quarter.
As need for manpower continues to shrink for traditional application and maintenance business, IT companies are reskilling their million-strong workforce in newer technologies. Developers today need to focus on full-stack programming rather than specialize in a particular technology. Full stack programmers can work on both front end and back end tech, including design.
Sudip Bandopadhyay, Market Expert suggests buying Persistent Systems and Mindtree from the IT space and Lupin from the pharma space.
Avinash Gorakshakar, Market Expert is of the view that one may prefer Persistent Systems.
The company has entered into an agreement with USAA, a Fortune 500 financial service provider, for development rights to a number of patented innovations currently in use by USAA related to security in financial services.
An analysis of December quarter results by the brokerage showed that they continued to under-grow global digital pure-plays sharply and have significant variance in their performance.