Persistent Systems Ltd Stock Analysis

The company was incorporated as Persistent Systems Private Limited on May 30, 1990. The Company was subsequently converted into a public limited company on September 17, 2007 with the name Persistent Systems Limited and a new certificate of incorporation was issued on September 28, 2007 from the RoC.

It is an OPD specialty company, offering the customers the benefits of offshore delivery. It designs, develops and maintains software systems and solutions, creates new applications and enhances the functionality of the customers’ existing software products. It delivers services across all stages of the product life-cycle, which enables it to work with a wide-range of customers and allows it to develop, enhance and deploy its customers’ software products. It has been recognized as one of the leading technology companies in the Deloitte Touche Tohmatsu Technology Fast 500 Asia Pacific 2009.

The company is having depth of experience in the focused areas of telecommunications, life sciences and infrastructure and systems. It has invested and plans to continuously invest in new technologies and frameworks in the areas of cloud computing, analytics, enterprise collaboration and enterprise mobility. The company is an innovator and helps its customers to build innovative solutions. This was recognized when it won the 2008 NASSCOM Innovation Award. Its comprehensive suite of service offerings allows it to attract new customers and expand existing customer relationships.

Business area of the company

Persistent Systems is a global company specializing in software products, services and technology innovation. The company offers complete product life cycle services.

Products and services offered by the bank

• Industry Expertise and Solutions
• Banking, Financial Services & Insurance
  
• Healthcare & Life Sciences
  
• Industrial
  
• Software & Hi-Tech

Service Lines

• Digital Business Strategy
  
• Digital Product Engineering
  
• CX Innovation & Optimization
  
• Data-Driven Business & Intelligence
  
• Identity, Access & Privacy
  
• Core IT Modernization

Awards and Recognition

2016-17

• Recognized in ‘Leadership’ zone across all categories in ‘Zinnov Zones for Digital Services’
• Named Appian Regional Partner of the Year, Americas, and Awarded “Best Use of Mobile” in Appian App Market Awards
• On the India’s ‘Coding Power House’ in 2016 which is thrice in a row
• Recognized for the strongest overall capabilities in Distributed Agile Delivery of Services by Ovum Decision Matrix
• Recognized as Oracles’ North America Partner of the Year in Security
• Recognized in Leadership one for ‘Software Platform Engineering Management’ and ‘Engineering Analytics Decision Sciences’ in ‘Zinnov Zones 2016 - IoT Technology Services’ Report
• Got featured in Forbes India Magazine - “With an eye on the cloud, Persistent Systems continues to innovate”
• Recognized at the Oracle Excellence Awards 2016 as a specialised partner for security
• Recognized by the Association for Talent Development in the 2016 BEST Awards for demonstrating enterprise-wide success through talent development

2017-18

• Recognized amongst the leading players in ‘Zinnov Zones 2017 - Digital Services’ Report
• FM ‘XCELLENCE AWARDS 2016-17 Sanjay Chaudhari Ecological Sustainability Nilesh Datar Innovation & Technology
• Best Enterprise Services Vendor Award
• BG Deshmukh, IAS Award for Excellence in CSR
• Training Top 125 (T125) International Award from Training Magazine
• Recognized for IoT Technology competency in ‘Zinnov Zones 2017 - IoT Technology Services’ Report
• ‘Gold’ award for excellence within its Competition Class; Ranked 27th rank among Top 100 Communications Materials of 2017
• ‘Platinum’ rating in ‘The Asset Corporate Awards 2017’ for Excellence in Governance, CSR & Investor Relations
• PETA India Compassionate Science Award 2018 for developing e-SkIN, a genomics software
• Recognized in Leadership Zone in ‘Zinnov Zones 2017 - Product Engineering Services’ in the “Enterprise S/W” & “Consumer S/W” categories.

2018-19

• Alconics award for Best Application of AI in Financial Services
• IBM Innovation Award for Humanoid Concierge Solution Using Watson IoT
• Recognized amongst the leading players in ‘Zinnov Zones for Digital Services - 2019’ Report
• Recognized as an Innovator in Avasant’s Internet of Things Services RadarView Report
• Positioned as ‘Rising Star’ for Salesforce Professional Services in ISG Provider Lens 2019 Report
• Persistent Systems’ IoT Leadership Recognized in Zinnov Zones 2018 - IoT Technology Services Report
• Positioned in the Leadership Zone in “Zinnov Zones 2018 - ER&D Services” for Enterprise Software and Consumer Software verticals
• Recognized in the Winner’s Circle by HFS Blueprint Report for Software Product Engineering Services

2019-20

• Persistent moves from ‘Rising Star’ to cross-category ‘Leader’ ISG Provider Lens 2020 for Salesforce Ecosystem Partners
• 7th consecutive year - Persistent in leadership positions in Zinnov Zones 2019 ER&D Services Report
• Persistent Named a Top 15 Sourcing Standout by ISG in both Global and Americas Booming 15 Categories
• Ecological Sustainability Award At iNFHRA’s Workplace Excellence Awards 2019-20
  Best Corporate University Winner 7 times at TISS-Leap Vault Awards 2019
• Persistent Systems Once Again Named to Constellation ShortList for Innovation Services and Engineering

Milestones

1990-92

• Persistent is incorporated on May 30, 1990 and begins operations at Bhosari STP in Pune, India.
  
• Persistent becomes the first company to become operational at STP in India; also the first company to export from STP India.
  
• Persistent signs its first contract with GIP ALTAIR-02 Technology, France.
  
• Microsoft becomes a Persistent client.
  
• Persistent declares its first dividend, and has maintained the practice ever since.

1993-94

• Kapilvastu, the first owned development centre of Persistent, becomes operational.
  
• Persistent receives the Export Achievement Award
  
• Revenue crosses Rs 5 million.
  
• Hewlett-Packard becomes a Persistent client.

1995-96

• Persistent announces its first bonus issue (15:1).
  
• Persistent takes over Intrix Systems Pvt. Ltd., a 100% subsidiary of Intrix Systems Group, USA

1997-98

• Persistent is rated among 15 emerging companies in a special issue of DataQuest.
  
• Persistent is awarded first prize from the Government of Maharashtra (Small Scale Division) for export performance.
  
• Persistent begins operations at Panini, owned premises in Pune, India.

1999-2000

• Persistent introduces ESOPs.
  
• Team Persistent is now 100.
  
• Persistent gets investment from Intel’s 64 Fund.
  
• Persistent forms Persistent eBusiness Solutions Private Limited in India.

2001-02

• Persistent sets up Persistent Systems, Inc., a C-Corporation in California, USA
  
• Revenue crosses Rs 500 million.
  
• Persistent inaugurates its state-of-the-art development centre Bhageerath in Pune.
  
• Persistent announces its second bonus issue (9:1).

2003-04

• Team Persistent is now 500.
  
• Persistent acquires land at the Hinjawadi IT Park in Pune, India. Persistent opens an office in the UK.
  
• Persistent opens a development center in Nagpur, India

2005-06

• Persistent begins operations at Aryabhata-Pingala, newly built office in Pune, India
  
• Persistent acquires Goabased ControlNet Private Limited and sets it up as a development center.
  
• Persistent receives joint investment by Norwest Venture Partners (NVP) and Gabriel Venture Partners (GVP).

2007-09

• Persistent forms Persistent Systems Pte. Ltd. in Singapore.
  
• Persistent opens an office in Rotterdam, The Netherlands.
  
• Persistent announces its third bonus issue (5:2).
  
• Persistent wins NASSCOM Innovation Award 2008 for a solution developed for Bridgestone Europe
  
• Persistent opens an office in Quebec, Canada.
  
• Persistent forms Persistent Foundation, a public charitable trust.

2010

• Persistent completes its Initial Public Offering.
• Persistent takes over a software business unit from Agilent Technologies, France.

2011

• Persistent acquires Openwave's location business.
  
• Persistent forms Persistent Systems France S.A.S., and opens an office in Grenoble, France.

2012

• Persistent acquires the innovative cloud platform business from Doyenz, Inc.
  
• Persistent's Hinjawadi office - RigvedaYajurveda-SamavedaAtharvaveda - is inaugurated.
  
• Persistent opens an office in Australia.

2013

• Persistent forms Persistent Systems Malaysia Sdn. Bhd. in Kuala Lumpur, Malaysia.
  
• Persistent opens its Collaborative Software Development Center in Dublin, Ohio

2014

• Persistent creates Accelerite to take products and solutions to market
  
• The Persistent Venture Fund is formed.
  
• Persistent opens offices in Germany and South Africa.

2015

• Persistent forms a Research and Innovation Board.
  
• Persistent launches Persistent Computing Institute.
  
• Persistent announces its fourth bonus issue (1:1).

2016

• Persistent extends Salesforce Health Cloud to support patient and provider engagement and interaction.
  
• Persistent launches specialized engineering services for the IBM Watson IoT Platform.
  
• Business Today places Dr. Anand Deshpande on India’s Best CEOs List.
  
• Persistent acquires Australia’s PRM Cloud Solutions.

2017

• HfS Report attests to Persistent’s growing momentum in the Salesforce ecosystem.
  
• Persistent acquires PARX - a Platinum Salesforce Consulting Partner in the DACH market.

2018

• Persistent acquires Herald Health, a startup transforming healthcare data overload into clear and actionable insights.
  
• Persistent is recognized in the Winner’s Circle by HFS Blueprint Report for Software Product Engineering Services.

2019

• Persistent appoints Christopher O’Connor as Executive Director and CEO.
  
• Persistent appoints Sandeep Kalra as Executive Director and President of Technology Services.

2020

• Persistent brand is re imagined and refreshed.
  
• Rs 25 crore ($3.3 million) committed in support of COVID-19 efforts globally.