3 Enterprise Software, Data Analytics and Customer Operations Stocks With a Strong Future Roadmap: Newgen Software Technologies, Latent View Analytics and Firstsource Solutions
- October 21, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Newgen Software Technologies, Latent View Analytics and Firstsource Solutions: ROE of 11.3% to 18.7% and FY22 to FY26 revenue CAGR of 12.7% to 27.6%. Prices as of 20 Oct 2026.
Quick Answer
The three digital services stocks to watch are Newgen Software Technologies, Latent View Analytics and Firstsource Solutions. Their return on equity ranges from 11.3% to 18.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.7% to 27.6%. Newgen Software Technologies has the highest return on equity at 18.7%, while Latent View Analytics has the fastest revenue growth at 27.6% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.
Digital services stocks give investors exposure to the way businesses are moving work and decisions onto data and software. Newgen Software Technologies, Latent View Analytics and Firstsource Solutions cover enterprise software for process automation, data analytics and customer operations services.
This list covers three digital services stocks with complete current figures: Newgen Software Technologies, Latent View Analytics and Firstsource Solutions. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.
Click Here – Get Free Investment Predictions
What Are Digital Services Stocks?
Digital services stocks are listed companies that sell software, analytics and technology-enabled services to businesses. They earn from licences, subscriptions and long service contracts, and grow as customers expand their digital spending.
Digital Services Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Newgen Software Technologies | 479.1 | 6,835 | 21.8 | 17.5 | 18.7 | 0.02 |
| Latent View Analytics | 239.73 | 4,968 | 25.0 | 17.5 | 11.3 | 0.02 |
| Firstsource Solutions | 275.8 | 19,489 | 29.1 | 17.5 | 17.1 | 0.67 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing digital services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Digital Services Stocks Have a Strong Roadmap in India?
Digital services stocks have a strong roadmap in India because companies worldwide are investing in data, automation and customer experience, and Indian firms offer skilled talent at scale.
- Data use. Businesses invest in analytics to guide pricing, marketing and operations.
- Process automation. Software that manages documents and workflows cuts cost and time.
- Customer operations. Technology-led service centres handle support and back-office work for global clients.
Why Newgen Software Technologies Features Among These Digital Services Stocks
Among the digital services stocks on this list, Newgen Software Technologies, based in Delhi, offers low-code platforms for content management, process automation and customer engagement to banks, insurers and governments.
In the June 2026 quarter, revenue grew 12.3% year on year to Rs 393 crore, while net profit rose 26.3% to Rs 62.8 crore. Revenue rose from Rs 809 crore in FY22 to Rs 1,641 crore in FY26, a compound annual growth rate of 19.4%.
Net profit grew from Rs 164 crore in FY22 to Rs 301 crore in FY26, which works out to a compound annual growth rate of 16.3%. The company has a return on equity of 18.7%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 6,835 crore. The stock trades at a P/E of 21.8, above the industry P/E of 17.5.
Roadmap: Digital transformation at banks and public sector organisations, plus new artificial intelligence features on its platform, widen its addressable market. A growing share of recurring licence and cloud revenue improves predictability.
What to watch: Monitor deal wins in the banking sector and the growth of recurring revenue.
Why Latent View Analytics Features Among These Digital Services Stocks
Among the digital services shares on this list, Latent View Analytics, headquartered in Chennai, provides data analytics, engineering and artificial intelligence services to technology, consumer and financial clients worldwide.
The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,968 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5.
Revenue rose from Rs 429 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 27.6%. Net profit grew from Rs 130 crore in FY22 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 11.8%. In the June 2026 quarter, revenue grew 18.8% year on year to Rs 308 crore.
Roadmap: Enterprises are investing in analytics and artificial intelligence, which feeds demand for data services. The company is widening its client list and scaling large accounts with a consulting and engineering model.
What to watch: Follow client additions and the growth of large accounts.
Why Firstsource Solutions Features Among These Digital Services Stocks
Among the three companies on this list, Firstsource Solutions, an RPG group company, is a business process management firm serving banks, healthcare payers and providers, and other clients, mainly in the United States and the United Kingdom.
Revenue rose from Rs 5,922 crore in FY22 to Rs 9,564 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%.
In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P/E of 29.1, above the industry P/E of 17.5.
Roadmap: It is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.
What to watch: Follow contract wins in healthcare and the pace of new technology investments.
Newgen Software Technologies vs Latent View Analytics vs Firstsource Solutions on Key Financials
The table below sets the three digital services stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Newgen Software Technologies | 809 | 1,641 | 19.4% | 301 | 18.3% |
| Latent View Analytics | 429 | 1,136 | 27.6% | 202 | 17.8% |
| Firstsource Solutions | 5,922 | 9,564 | 12.7% | 674 | 7.1% |
Newgen Software Technologies posts the highest return on equity in this group at 18.7%. Firstsource Solutions has the largest FY26 revenue at Rs 9,564 crore, and Latent View Analytics shows the fastest revenue growth with a 27.6% compound annual rate. A useful habit with digital services stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Newgen Software Technologies | 350 | 393 | 12.3% |
| Latent View Analytics | 259 | 308 | 18.8% |
| Firstsource Solutions | 2,224 | 2,731 | 22.8% |
Key Risks to Check Before Investing in Digital Services Stocks
Every theme carries risks that deserve a check before any decision. For these digital services stocks, the main points are:
- Client spending. Technology budgets can change with the economy.
- Currency movements. Export revenue is affected by exchange rates.
- Talent costs. Wage inflation can affect margins.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter digital services stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Digital Services Stocks
Digital services stocks reward investors who follow client wins, margins and cash generation. Newgen Software Technologies, Latent View Analytics and Firstsource Solutions each provide a different digital capability. Based on the 20 October 2026 close, Newgen Software Technologies trades at Rs 479.1, Latent View Analytics at Rs 239.73 and Firstsource Solutions at Rs 275.8.
Download the Univest iOS App or Univest Android App to track digital services stocks, set price alerts and get research-backed stock ideas.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are digital services stocks?
Ans. Digital services stocks are listed companies that sell software, analytics and technology-enabled services to businesses. They earn from licences, subscriptions and long service contracts, and grow as customers expand their digital spending. This list looks at three of them, Newgen Software Technologies, Latent View Analytics and Firstsource Solutions, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.
Which digital services stocks are covered in this list?
Ans. This list covers Newgen Software Technologies, Latent View Analytics and Firstsource Solutions. Based on the 20 October 2026 close, Newgen Software Technologies traded at Rs 479.1, Latent View Analytics at Rs 239.73 and Firstsource Solutions at Rs 275.8. Their return on equity ranges from 11.3% to 18.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.7% to 27.6%.
Why do digital services stocks have a strong future roadmap in India?
Ans. Digital services stocks have a strong roadmap in India because companies worldwide are investing in data, automation and customer experience, and Indian firms offer skilled talent at scale. The main drivers are as follows. Data use. Businesses invest in analytics to guide pricing, marketing and operations. Process automation. Software that manages documents and workflows cuts cost and time. Customer operations. Technology-led service centres handle support and back-office work for global clients. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Newgen Software Technologies performed financially?
Ans. Revenue rose from Rs 809 crore in FY22 to Rs 1,641 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 164 crore in FY22 to Rs 301 crore in FY26, which works out to a compound annual growth rate of 16.3%. In the June 2026 quarter, revenue grew 12.3% year on year to Rs 393 crore, while net profit rose 26.3% to Rs 62.8 crore. The company has a return on equity of 18.7%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 6,835 crore. The stock trades at a P/E of 21.8, above the industry P/E of 17.5. Looking ahead, digital transformation at banks and public sector organisations, plus new artificial intelligence features on its platform, widen its addressable market. A growing share of recurring licence and cloud revenue improves predictability.
How has Latent View Analytics performed financially?
Ans. Revenue rose from Rs 429 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 27.6%. Net profit grew from Rs 130 crore in FY22 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 11.8%. In the June 2026 quarter, revenue grew 18.8% year on year to Rs 308 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,968 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5. Looking ahead, enterprises are investing in analytics and artificial intelligence, which feeds demand for data services. The company is widening its client list and scaling large accounts with a consulting and engineering model.
How has Firstsource Solutions performed financially?
Ans. Revenue rose from Rs 5,922 crore in FY22 to Rs 9,564 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%. In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P/E of 29.1, above the industry P/E of 17.5. Looking ahead, it is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.
What risks should investors check before buying digital services stocks?
Ans. Investors should check a few risks before buying digital services stocks. Client spending. Technology budgets can change with the economy. Currency movements. Export revenue is affected by exchange rates. Talent costs. Wage inflation can affect margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of digital services stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
