Epam Systems Inc. (EPAM) Upgraded by Zacks Investment Research to “Buy”
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 $73.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.27% from the company’s current price.
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 have also recently weighed in on the stock. Barclays PLC cut their price objective on shares of 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. Cantor Fitzgerald reaffirmed a “buy” rating and set a $84.00 price objective on shares of Epam Systems in a research report on Tuesday, July 5th. Pacific Crest reaffirmed a “buy” rating and set a $77.00 price objective on shares of Epam Systems in a research report on Friday, August 5th. Wedbush started coverage on shares of Epam Systems in a research report on Thursday, September 8th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Epam Systems in a research report on Saturday, July 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus 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. 218,420 shares of the stock traded hands. Epam Systems has a 1-year low of $54.88 and a 1-year high of $84.41. The stock has a market cap of $3.31 billion, a PE ratio of 34.64 and a beta of 1.22. The stock has a 50 day moving average of $67.75 and a 200-day moving average of $70.11.
Epam Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $283.80 million for the quarter, compared to the consensus estimate of $281.11 million. During the same period in the prior year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities research analysts expect 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 company’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 transaction, the insider now owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.98% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in EPAM. BNP Paribas Arbitrage SA increased its stake in Epam Systems by 112.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,051 shares of the company’s stock worth $281,000 after buying an additional 2,145 shares in the last quarter. Royal Bank of Canada increased its stake in Epam Systems by 169.1% in the second quarter. Royal Bank of Canada now owns 13,826 shares of the company’s stock worth $890,000 after buying an additional 8,688 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in Epam Systems during the second quarter worth $6,706,000. Stifel Financial Corp increased its stake in Epam Systems by 5.8% in the second quarter. Stifel Financial Corp now owns 3,400 shares of the company’s stock worth $220,000 after buying an additional 186 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its stake in Epam Systems by 3.8% in the second quarter. Grandeur Peak Global Advisors LLC now owns 163,150 shares of the company’s stock worth $10,492,000 after buying an additional 5,950 shares in the last quarter. 94.13% of the stock is owned by institutional investors and hedge funds.
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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