EPAM Systems, Inc. (NYSE:EPAM) had its target price boosted by KeyCorp from $90.00 to $94.00 in a research note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. KeyCorp’s price target indicates a potential upside of 7.29% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. BidaskClub lowered EPAM Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. Berenberg Bank set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. UBS AG lifted their price target on EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Jefferies Group LLC set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research lowered EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. EPAM Systems currently has a consensus rating of “Buy” and a consensus price target of $91.54.
EPAM Systems (NYSE:EPAM) traded down 3.49% during trading on Wednesday, hitting $84.55. The stock had a trading volume of 179,804 shares. EPAM Systems has a 52 week low of $54.53 and a 52 week high of $87.93. The stock has a market capitalization of $4.44 billion, a P/E ratio of 40.83 and a beta of 0.99. The company has a 50-day moving average of $82.59 and a 200-day moving average of $80.17.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The company had revenue of $348.98 million during the quarter, compared to analyst estimates of $342.00 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities analysts expect that EPAM Systems will post $3.30 earnings per share for the current fiscal year.
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In other news, CEO Arkadiy Dobkin sold 30,000 shares of EPAM Systems stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $80.14, for a total value of $2,404,200.00. Following the transaction, the chief executive officer now owns 2,110,851 shares in the company, valued at $169,163,599.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 172,045 shares of company stock worth $14,125,916. Company insiders own 6.17% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in shares of EPAM Systems in the second quarter worth about $101,000. Jacobi Capital Management LLC purchased a new position in shares of EPAM Systems in the second quarter worth about $119,000. PNC Financial Services Group Inc. increased its holdings in shares of EPAM Systems by 34.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EPAM Systems by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after buying an additional 166 shares during the period. Finally, US Bancorp DE increased its holdings in shares of EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after buying an additional 1,974 shares during the period. Hedge funds and other institutional investors own 87.90% of the company’s stock.
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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