Zacks Investment Research downgraded shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a research report sent to investors on Friday, November 17th.
According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “
Other equities research analysts have also issued research reports about the stock. Cowen reissued a buy rating and set a $95.00 price objective on shares of EPAM Systems in a research note on Thursday, October 12th. BidaskClub raised shares of EPAM Systems from a hold rating to a buy rating in a research note on Tuesday, October 3rd. Jefferies Group set a $95.00 price objective on shares of EPAM Systems and gave the stock a buy rating in a research note on Thursday, August 17th. Berenberg Bank set a $95.00 target price on shares of EPAM Systems and gave the stock a buy rating in a report on Sunday, August 6th. Finally, UBS lifted their target price on shares of EPAM Systems from $89.00 to $96.00 and gave the stock a buy rating in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. EPAM Systems currently has an average rating of Buy and a consensus price target of $98.64.
Shares of EPAM Systems (NYSE EPAM) traded down $1.93 during trading hours on Friday, reaching $97.08. 349,767 shares of the company were exchanged, compared to its average volume of 335,130. EPAM Systems has a one year low of $61.74 and a one year high of $107.91. The stock has a market cap of $5,228.97, a PE ratio of 39.13, a PEG ratio of 1.90 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.56 and a current ratio of 5.56.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $377.50 million for the quarter, compared to analyst estimates of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. equities research analysts predict that EPAM Systems will post 2.68 EPS for the current fiscal year.
In other news, CEO Arkadiy Dobkin sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $82.15, for a total value of $2,464,500.00. Following the sale, the chief executive officer now directly owns 2,075,851 shares in the company, valued at approximately $170,531,159.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elaina Shekhter sold 500 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Insiders have sold 387,054 shares of company stock valued at $36,009,181 in the last quarter. 6.17% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in EPAM Systems during the 2nd quarter worth approximately $101,000. Jacobi Capital Management LLC purchased a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $119,000. PNC Financial Services Group Inc. increased its holdings in shares of EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 166 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of EPAM Systems by 1,762.5% during the 2nd quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 1,974 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.
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EPAM Systems Company Profile
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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