Zacks Investment Research upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research report report published on Wednesday morning. 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. “
Other analysts have also recently issued research reports about the company. Bank of America started coverage on EPAM Systems in a research report on Tuesday, September 12th. They set a buy rating and a $95.00 target price on the stock. Citigroup increased their target price on EPAM Systems from $105.00 to $110.00 and gave the company a buy rating in a research report on Friday, November 3rd. Needham & Company LLC reaffirmed a buy rating and set a $110.00 target price (up previously from $90.00) on shares of EPAM Systems in a research report on Friday, November 3rd. UBS Group reaffirmed a buy rating and set a $105.00 target price (up previously from $96.00) on shares of EPAM Systems in a research report on Friday, November 3rd. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $92.00 target price on shares of EPAM Systems in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $102.87.
Shares of EPAM Systems (NYSE EPAM) traded up $0.47 during midday trading on Wednesday, reaching $110.87. The company’s stock had a trading volume of 260,850 shares, compared to its average volume of 292,806. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. The company has a market cap of $5,820.00, a PE ratio of 46.98, a PEG ratio of 1.72 and a beta of 0.98. EPAM Systems has a 1-year low of $63.32 and a 1-year high of $111.95.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The business had revenue of $377.50 million for the quarter, compared to analysts’ expectations of $368.22 million. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The business’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. analysts forecast that EPAM Systems will post 2.67 EPS for the current year.
In other news, CEO Arkadiy Dobkin sold 75,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $101.64, for a total value of $7,623,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald P. Vargo sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total value of $405,280.00. The disclosure for this sale can be found here. Insiders sold a total of 229,154 shares of company stock valued at $22,580,185 in the last three months. Insiders own 6.17% of the company’s stock.
Several institutional investors have recently bought and sold shares of EPAM. Artisan Partners Limited Partnership raised its stake in EPAM Systems by 54.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 216,086 shares of the information technology services provider’s stock worth $19,000,000 after acquiring an additional 76,625 shares during the last quarter. Bank of Nova Scotia purchased a new position in EPAM Systems in the 2nd quarter worth $2,565,000. Sloane Robinson LLP purchased a new position in EPAM Systems in the 3rd quarter worth $5,610,000. Bamco Inc. NY raised its stake in EPAM Systems by 28.0% in the 3rd quarter. Bamco Inc. NY now owns 53,836 shares of the information technology services provider’s stock worth $4,734,000 after acquiring an additional 11,763 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in EPAM Systems by 9.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,692 shares of the information technology services provider’s stock worth $2,076,000 after acquiring an additional 2,197 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.
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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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