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    533179   INE262H01013

PERSISTENT SYSTEMS LIMITED

(533179)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-10-05
3558.85 INR   +7.93%
10/03Nomura Adjusts Persistent Systems' Price Target to 3,730 Indian Rupees From 4,100 Rupees, Keeps at Buy
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08/29Persistent : Schedule of Analysts/Institutional Investor Meet/Con. Call
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08/04MediaAgility, Recently Acquired by Persistent, Named as a Niche Player in the 2022 Gartner Magic Quadrant for Public Cloud IT Transformation Services
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MediaAgility, Recently Acquired by Persistent, Named as a Niche Player in the 2022 Gartner Magic Quadrant for Public Cloud IT Transformation Services

08/04/2022 | 08:03am EDT

For 2nd year, recognized for Ability to Execute and Completeness of Vision.

MediaAgility, which is now part of Persistent Systems (BSE & NSE: PERSISTENT) and a leading provider of solutions in the global cloud transformation services, has been recognized in the 2022 Gartner Magic Quadrant for Public Cloud IT Transformation Services. It also scored in all the five use cases for Critical Capabilities for Public Cloud IT Transformation Services on account of its ability to execute and completeness of vision.

Persistent has bolstered its presence in the Google ecosystem with the acquisition, first announced in March 2022, of MediaAgility. With cloud increasingly at the epicenter of digital transformation, Persistent has significantly invested in bringing scale and the skills needed to build an enviable multicloud portfolio across major hyperscalers. This includes fortifying its capabilities with GCP, Azure and AWS to offer horizontal and verticalized solutions to its clients, enabling them to accelerate their journeys. Integral to this strategy has been the formation of hyperscaler-focused business units both organically and through acquisitions.

Combined with the acquired capabilities from MediaAgility, Persistent now has seven Google Cloud partner specializations, 31 Google Cloud Partner Expertise designations, 360+ Google Cloud certifications, and several business-focused solutions like Persistent Intelligent Cyber Recovery which are available on the Google Marketplace.

Sandeep Kalra, CEO and Executive Director, Persistent:

'We are pleased to be recognized among global providers in the 2022 Gartner Magic Quadrant. We believe, it is a testament to the fact that clients today are increasingly looking at fast, flexible, and scalable solutions that can enable continuous digital transformation.

Bringing leading GCP capabilities through our newly formed Google Business Unit enables Persistent to deliver innovative services to combat complex business challenges. In addition to Google, we have robust partnerships with Microsoft, and AWS that are focused on building multicloud engineering capabilities that will empower our clients to thrive in the era of digital acceleration.'

Rajesh Abhyankar, Senior Vice President - Google Business Unit, Persistent:

'Many organizations are constantly upgrading themselves with the latest technology in the dynamic world with ever-changing customer demands. They need partners that deliver end-to-end cloud-based solutions, allowing them to reduce time to market and scale digital transformation.

We believe this recognition from Gartner acknowledges the foundation for secure multicloud transformation. Our dedicated Google Business Unit further enhances our strength of cloud-native application development, cloud engineering services, and managed services to drive successful business outcomes for our clients.'

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players.

1 Source:

Gartner, Magic Quadrant for Public Cloud IT Transformation Services, Mark Ray, Tobi Bet, David Groombridge, Craig Lowery, DD Mishra, William Maurer, 20th July 2022

Gartner, Critical Capabilities for Public Cloud IT Transformation Services, Mark Ray, Tobi Bet, David Groombridge, Craig Lowery, DD Mishra, William Maurer, Tobi Bet, William Maurer, Mark Ray, David Groombridge, Craig Lowery, DD Mishra, 20th July 2022

View a complimentary copy of the Magic Quadrant report to learn more about Persistent's public cloud solutions offerings strengths and cautions, among other provider offerings, at 2022 Gartner Magic Quadrant for Public Cloud IT Transformation Services.

Gartner disclaimer

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Persistent

With over 21,500 employees located in 18 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. Persistent was named to the Forbes Asia Best Under a Billion 2021 list, representing consistent top-and bottom-line performance as well as growth.

www.persistent.com

Forward-looking and Cautionary Statements

For risks and uncertainties relating to forward-looking statements, please visit persistent.com/FLCS

Media Contacts

Keith Landis

Persistent Systems (Global)

+1 856 672 1753

keith_landis@persistent.com

Manohar Dhanakshirur

Archetype

+91 750 644 5361

manohar.dhanakshirur@archetype.co

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GARTNER, INC. 0.33% 300.76 Delayed Quote.-10.04%
PERSISTENT SYSTEMS LIMITED 7.93% 3558.85 End-of-day quote.-27.40%
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Financials
Sales 2023 80 979 M 986 M 986 M
Net income 2023 9 056 M 110 M 110 M
Net cash 2023 5 125 M 62,4 M 62,4 M
P/E ratio 2023 30,2x
Yield 2023 1,07%
Capitalization 272 B 3 313 M 3 313 M
EV / Sales 2023 3,30x
EV / Sales 2024 2,76x
Nbr of Employees 16 989
Free-Float 60,0%
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 3 558,85 INR
Average target price 3 966,28 INR
Spread / Average Target 11,4%
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Managers and Directors
Anand Deshpande Chairman & Managing Director
Sandeep Kumar Kalra Chief Executive Officer & Executive Director
Sunil Yeshwant Sapre Chief Financial Officer & Executive Director
Pandurang Kamat Chief Technology Officer
R. Venkateswaran Chief Information Officer
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