Zacks Investment Research upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report released on Wednesday, January 10th. Zacks Investment Research currently has $124.00 price objective on the information technology services provider’s stock.
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. “
Several other equities analysts also recently issued reports on EPAM. Cowen set a $115.00 price target on shares of EPAM Systems and gave the company a buy rating in a report on Monday, December 11th. Pivotal Research started coverage on shares of EPAM Systems in a research report on Tuesday, December 5th. They set a buy rating and a $120.00 price target for the company. UBS Group cut shares of EPAM Systems from a buy rating to a neutral rating and boosted their price objective for the company from $105.00 to $110.00 in a report on Wednesday, November 29th. Bank of America upped their price target on shares of EPAM Systems from $95.00 to $110.00 and gave the company a buy rating in a report on Monday, November 6th. Finally, Citigroup boosted their price objective on shares of EPAM Systems from $105.00 to $110.00 and gave the stock a buy rating in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. EPAM Systems currently has an average rating of Buy and a consensus price target of $102.87.
Shares of EPAM Systems (NYSE EPAM) traded down $0.61 during trading hours on Wednesday, reaching $115.09. 13,345 shares of the company were exchanged, compared to its average volume of 253,450. EPAM Systems has a 1 year low of $64.13 and a 1 year high of $119.18. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $6,204.42 and a PE ratio of 49.23.
EPAM Systems (NYSE:EPAM) last released its quarterly 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 business had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. EPAM Systems’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. research analysts predict that EPAM Systems will post 2.67 earnings per share for the current fiscal year.
In other news, CEO Arkadiy Dobkin sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $103.21, for a total transaction of $2,022,916.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald P. Vargo sold 4,000 shares of EPAM Systems stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $101.32, for a total transaction of $405,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,893 shares of company stock valued at $17,418,090. Company insiders own 6.17% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EPAM. Canada Pension Plan Investment Board raised its stake in shares of EPAM Systems by 87.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 926,537 shares of the information technology services provider’s stock worth $81,470,000 after purchasing an additional 432,237 shares during the period. Macquarie Group Ltd. bought a new stake in EPAM Systems in the 2nd quarter valued at about $27,404,000. BARING ASSET MANAGEMENT Ltd raised its stake in EPAM Systems by 105.7% in the 3rd quarter. BARING ASSET MANAGEMENT Ltd now owns 406,329 shares of the information technology services provider’s stock valued at $35,728,000 after acquiring an additional 208,825 shares during the period. JPMorgan Chase & Co. raised its stake in EPAM Systems by 3.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,148,004 shares of the information technology services provider’s stock valued at $268,840,000 after acquiring an additional 119,230 shares during the period. Finally, Sutton Square Management L.P. bought a new stake in EPAM Systems in the 4th quarter valued at about $11,354,000. Institutional investors own 89.09% 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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