Epam Systems Inc. (EPAM) Upgraded 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 note issued to investors on Tuesday. The firm currently has a $73.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.27% 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 issued reports on EPAM. Citigroup Inc. restated a “buy” rating on shares of Epam Systems in a report on Saturday, July 9th. Wedbush began coverage on Epam Systems in a research report on Thursday, September 8th. They set an “outperform” rating and a $82.00 price objective for the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Epam Systems in a research report on Monday, August 22nd. Pacific Crest began coverage on Epam Systems in a research report on Tuesday, July 12th. They set an “overweight” rating and a $77.00 price objective for the company. Finally, Barclays PLC reduced their price objective on Epam Systems from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $81.27.
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Shares of Epam Systems (NYSE:EPAM) traded up 0.60% on Tuesday, hitting $65.02. The company had a trading volume of 218,420 shares. Epam Systems has a 12-month low of $54.88 and a 12-month high of $84.41. The firm has a market capitalization of $3.31 billion, a P/E ratio of 34.64 and a beta of 1.22. The firm has a 50 day moving average of $67.75 and a 200-day moving average of $70.11.
Epam Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.02. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. The business earned $283.80 million during the quarter, compared to the consensus estimate of $281.11 million. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. On average, equities analysts predict that Epam Systems will post $2.99 EPS for the current year.
In other news, insider Anthony J. Conte sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was 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 directly owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.98% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in EPAM. Wellington Management Group LLP raised its position in shares of Epam Systems by 33.2% in the first quarter. Wellington Management Group LLP now owns 1,084,823 shares of the company’s stock worth $81,004,000 after buying an additional 270,389 shares during the period. State Street Corp raised its position in shares of Epam Systems by 2.9% in the first quarter. State Street Corp now owns 864,567 shares of the company’s stock worth $64,560,000 after buying an additional 24,531 shares during the period. Lazard Asset Management LLC raised its position in shares of Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock worth $159,000 after buying an additional 2,081 shares during the period. BlackRock Inc. raised its position in shares of Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock worth $241,000 after buying an additional 1,828 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Epam Systems by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 125,072 shares of the company’s stock worth $9,339,000 after buying an additional 22,825 shares during the period. Institutional investors own 94.13% of the company’s stock.
About Epam Systems
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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