Barclays PLC Trims EPAM Systems, Inc. (NYSE:EPAM) Target Price to $91.00
EPAM Systems, Inc. (NYSE:EPAM) had its price objective dropped by investment analysts at Barclays PLC from $92.00 to $91.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Barclays PLC’s price target indicates a potential upside of 9.10% from the company’s previous close.
Several other research firms have also recently weighed in on EPAM. Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 price objective on shares of EPAM Systems in a research report on Thursday, May 4th. Wedbush increased their price objective on EPAM Systems from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. BidaskClub cut EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective (up from $82.00) on shares of EPAM Systems in a research report on Friday, May 5th. Finally, Zacks Investment Research cut EPAM Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $89.50.
Shares of EPAM Systems (NYSE EPAM) traded up 1.84% during mid-day trading on Friday, hitting $83.41. 361,714 shares of the company were exchanged. The stock has a market cap of $4.32 billion, a PE ratio of 40.29 and a beta of 0.99. The stock’s 50-day moving average price is $84.28 and its 200 day moving average price is $77.14. EPAM Systems has a 12-month low of $54.53 and a 12-month high of $87.93.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. EPAM Systems had a return on equity of 15.74% and a net margin of 8.71%. The firm had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that EPAM Systems will post $3.39 EPS for the current fiscal year.
In related news, insider Elaina Shekhter sold 2,875 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $80.63, for a total value of $231,811.25. Following the completion of the transaction, the insider now directly owns 12,219 shares of the company’s stock, valued at $985,217.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $84.76, for a total value of $2,901,673.84. Following the completion of the transaction, the senior vice president now directly owns 48,467 shares of the company’s stock, valued at $4,108,062.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,164 shares of company stock valued at $5,365,096. 6.17% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in shares of EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares during the period. US Bancorp DE boosted its position in shares of EPAM Systems by 1,762.5% in the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after buying an additional 1,974 shares during the period. Westpac Banking Corp purchased a new position in shares of EPAM Systems during the first quarter valued at approximately $197,000. Candriam Luxembourg S.C.A. purchased a new position in shares of EPAM Systems during the first quarter valued at approximately $204,000. Finally, Atria Investments LLC purchased a new position in shares of EPAM Systems during the second quarter valued at approximately $206,000. 97.47% of the stock is owned by hedge funds and other institutional investors.
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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