Persistent Systems share price down nearly 3% today – Here's why
By Aditya Bhagchandani Published on May 15, 2025, 10:25 IST
Shares of Persistent Systems Ltd. fell nearly 3% in early trade on May 15, dropping to ₹5,614 after closing at ₹5,758.50 in the previous session. The decline follows concerns surrounding its major client, UnitedHealth Group (UHG), which is reportedly facing a series of regulatory and leadership-related setbacks.
According to the Wall Street Journal, the U.S. Department of Justice has been conducting a criminal investigation into UHG's Medicare Advantage division since last year. This development comes shortly after the healthcare giant withdrew its 2025 financial guidance and announced the abrupt resignation of CEO Andrew Witty. Former CEO Stephen Hemsley has returned to the position amid these challenges.
Persistent Systems has a significant business relationship with UHG, estimated at over $100 million. The uncertainty surrounding its top client's regulatory and leadership future has sparked investor concerns, leading to a dip in stock sentiment.
UnitedHealth has claimed it is unaware of any criminal probe, while the DOJ has declined to comment. Still, the situation adds to an already turbulent start to 2025 for the U.S. healthcare giant, impacting stakeholders globally, including Persistent Systems.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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