JPMorgan Chase Reaffirms “Overweight” Rating for EPAM Systems (NYSE:EPAM)

EPAM Systems (NYSE:EPAM)‘s stock had its “overweight” rating reissued by equities researchers at JPMorgan Chase in a research note issued on Friday, March 16th. They presently have a $130.00 price target on the information technology services provider’s stock, up from their prior price target of $118.00. JPMorgan Chase’s target price points to a potential upside of 17.11% from the company’s previous close.

A number of other research firms have also recently issued reports on EPAM. Zacks Investment Research cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. UBS cut shares of EPAM Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $105.00 to $110.00 in a research note on Wednesday, November 29th. Pivotal Research assumed coverage on shares of EPAM Systems in a research note on Tuesday, December 5th. They issued a “buy” rating and a $120.00 price target on the stock. Cowen set a $115.00 target price on shares of EPAM Systems and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $135.00 price target (up previously from $105.00) on shares of EPAM Systems in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $115.18.

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EPAM traded down $2.68 during trading on Friday, reaching $111.01. 166,796 shares of the company’s stock were exchanged, compared to its average volume of 338,708. EPAM Systems has a 1 year low of $73.86 and a 1 year high of $125.88. The company has a current ratio of 5.31, a quick ratio of 5.31 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $5,887.97, a PE ratio of 38.95, a P/E/G ratio of 1.71 and a beta of 0.92.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Friday, February 16th. The information technology services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $399.30 million during the quarter, compared to analyst estimates of $395.78 million. EPAM Systems had a net margin of 5.02% and a return on equity of 16.52%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. analysts predict that EPAM Systems will post 3.32 EPS for the current fiscal year.

In other news, Director Richard Michael Mayoras sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $114.72, for a total transaction of $286,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.17% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in shares of EPAM Systems by 8.2% in the fourth quarter. Amalgamated Bank now owns 6,779 shares of the information technology services provider’s stock valued at $728,000 after acquiring an additional 515 shares during the period. American Century Companies Inc. boosted its holdings in shares of EPAM Systems by 8.7% in the third quarter. American Century Companies Inc. now owns 7,278 shares of the information technology services provider’s stock valued at $640,000 after acquiring an additional 581 shares during the period. American International Group Inc. boosted its holdings in shares of EPAM Systems by 1.8% in the fourth quarter. American International Group Inc. now owns 33,568 shares of the information technology services provider’s stock valued at $3,606,000 after acquiring an additional 593 shares during the period. Sawgrass Asset Management LLC boosted its holdings in shares of EPAM Systems by 16.5% in the third quarter. Sawgrass Asset Management LLC now owns 4,345 shares of the information technology services provider’s stock valued at $382,000 after acquiring an additional 615 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of EPAM Systems by 1.1% in the third quarter. Rhumbline Advisers now owns 58,158 shares of the information technology services provider’s stock valued at $5,114,000 after acquiring an additional 648 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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EPAM Systems Company Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.

Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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