EPAM Systems’ (EPAM) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of EPAM Systems (NYSE:EPAM) in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a $265.00 price target on the information technology services provider’s stock.

Several other brokerages also recently issued reports on EPAM. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Piper Sandler increased their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Mizuho increased their target price on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their target price on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.83.

EPAM Systems Stock Down 7.2 %

Shares of NYSE:EPAM opened at $208.98 on Thursday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a 50 day moving average of $243.56 and a two-hundred day moving average of $222.34. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. As a group, analysts forecast that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 54 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 125 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc acquired a new position in shares of EPAM Systems during the fourth quarter valued at $35,000. Finally, Manchester Capital Management LLC increased its holdings in shares of EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.