Epam Systems Inc. (EPAM) Upgraded to Buy at Zacks Investment Research
Epam Systems Inc. (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $72.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.51% from the stock’s previous close.
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. “
Several other equities research analysts also recently commented on EPAM. Citigroup Inc. reaffirmed a “buy” rating on shares of Epam Systems in a research note on Saturday, July 9th. Wedbush assumed coverage on shares of Epam Systems in a research note on Thursday, September 8th. They issued an “outperform” rating and a $82.00 target price for the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Epam Systems in a research note on Monday, August 22nd. Pacific Crest assumed coverage on shares of Epam Systems in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $77.00 target price for the company. Finally, Barclays PLC lowered their target price on shares of Epam Systems from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Epam Systems currently has a consensus rating of “Buy” and a consensus target price of $82.18.
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Epam Systems (NYSE:EPAM) traded down 3.31% during midday trading on Tuesday, hitting $64.57. 262,027 shares of the company traded hands. The stock’s 50-day moving average is $68.12 and its 200-day moving average is $70.41. The firm has a market capitalization of $3.29 billion, a PE ratio of 34.40 and a beta of 1.22. Epam Systems has a 12-month low of $54.88 and a 12-month high of $84.41.
Epam Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.02. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The firm earned $283.80 million during the quarter, compared to the consensus estimate of $281.11 million. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. Analysts anticipate that Epam Systems will post $2.99 EPS for the current fiscal year.
In other Epam Systems news, insider Anthony J. Conte sold 1,200 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $66.50, for a total value of $79,800.00. Following the completion of the sale, the insider now owns 12,706 shares in the company, valued at $844,949. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.98% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services purchased a new stake in shares of Epam Systems during the fourth quarter worth approximately $379,000. Rathbone Brothers bought a new stake in Epam Systems during the fourth quarter worth about $12,154,000. Shaker Investments LLC OH boosted its stake in Epam Systems by 284.2% in the fourth quarter. Shaker Investments LLC OH now owns 22,440 shares of the company’s stock worth $1,764,000 after buying an additional 16,600 shares in the last quarter. Russell Frank Co boosted its stake in Epam Systems by 5.3% in the fourth quarter. Russell Frank Co now owns 280,248 shares of the company’s stock worth $22,206,000 after buying an additional 14,138 shares in the last quarter. Finally, Hosking Partners LLP boosted its stake in Epam Systems by 1.3% in the fourth quarter. Hosking Partners LLP now owns 168,020 shares of the company’s stock worth $13,210,000 after buying an additional 2,193 shares in the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.
Epam Systems Company Profile
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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