EPAM Systems (EPAM) Raised to “Hold” at Zacks Investment Research

EPAM Systems (NYSE:EPAM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

A number of other brokerages have also commented on EPAM. KeyCorp restated a “buy” rating and issued a $100.00 target price on shares of EPAM Systems in a research note on Sunday, October 29th. Pivotal Research started coverage on EPAM Systems in a research note on Tuesday, December 5th. They issued a “buy” rating and a $120.00 target price for the company. Needham & Company LLC upped their target price on EPAM Systems to $130.00 and gave the company a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and issued a $92.00 target price on shares of EPAM Systems in a research note on Thursday, November 2nd. Finally, Bank of America upped their target price on EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $113.94.

Shares of EPAM Systems (NYSE:EPAM) traded up $2.03 during mid-day trading on Friday, hitting $116.66. The stock had a trading volume of 239,547 shares, compared to its average volume of 319,090. EPAM Systems has a one year low of $71.58 and a one year high of $119.18. The firm has a market capitalization of $6,180.00, a price-to-earnings ratio of 42.89, a PEG ratio of 1.81 and a beta of 0.93. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Friday, February 16th. The information technology services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. EPAM Systems had a return on equity of 16.80% and a net margin of 5.02%. The company had revenue of $399.30 million during the quarter, compared to analyst estimates of $395.78 million. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. equities analysts expect that EPAM Systems will post 3.28 EPS for the current fiscal year.

In other EPAM Systems news, Director Richard Michael Mayoras sold 2,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $114.72, for a total value of $286,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.17% of the company’s stock.

Large investors have recently made changes to their positions in the business. Artisan Partners Limited Partnership grew its position in EPAM Systems by 54.9% in the third quarter. Artisan Partners Limited Partnership now owns 216,086 shares of the information technology services provider’s stock valued at $19,000,000 after acquiring an additional 76,625 shares during the period. Sloane Robinson LLP bought a new stake in shares of EPAM Systems during the third quarter worth $5,610,000. Bamco Inc. NY grew its holdings in shares of EPAM Systems by 28.0% during the third quarter. Bamco Inc. NY now owns 53,836 shares of the information technology services provider’s stock worth $4,734,000 after purchasing an additional 11,763 shares during the last quarter. Taylor Frigon Capital Management LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth $2,824,000. Finally, New York State Common Retirement Fund grew its holdings in shares of EPAM Systems by 2.9% during the third quarter. New York State Common Retirement Fund now owns 54,000 shares of the information technology services provider’s stock worth $4,748,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

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About EPAM Systems

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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