EPAM Systems, Inc. (NYSE:EPAM) Receives Consensus Rating of “Buy” from Brokerages
EPAM Systems, Inc. (NYSE:EPAM) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $90.11.
EPAM has been the topic of several research reports. Credit Suisse Group initiated coverage on EPAM Systems in a report on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 target price on the stock. Zacks Investment Research cut EPAM Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Barclays PLC reaffirmed an “overweight” rating and issued a $84.00 target price (up from $80.00) on shares of EPAM Systems in a report on Friday, May 5th. Wedbush lifted their target price on EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price (up from $82.00) on shares of EPAM Systems in a report on Friday, May 5th.
In other EPAM Systems news, insider Elaina Shekhter sold 2,875 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $80.63, for a total transaction of $231,811.25. Following the completion of the transaction, the insider now owns 12,219 shares in the company, valued at $985,217.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Balazs Fejes sold 34,234 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $84.76, for a total value of $2,901,673.84. Following the transaction, the senior vice president now owns 48,467 shares of the company’s stock, valued at approximately $4,108,062.92. The disclosure for this sale can be found here. Insiders have sold 63,164 shares of company stock valued at $5,365,096 in the last 90 days. Company insiders own 6.17% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in EPAM. Renaissance Technologies LLC acquired a new position in shares of EPAM Systems during the fourth quarter valued at about $2,855,000. Norges Bank purchased a new stake in shares of EPAM Systems during the fourth quarter worth about $21,131,000. Teachers Advisors LLC raised its stake in shares of EPAM Systems by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 300,728 shares of the information technology services provider’s stock worth $19,340,000 after buying an additional 10,957 shares during the last quarter. S&CO Inc. purchased a new stake in shares of EPAM Systems during the first quarter worth about $227,000. Finally, Creative Planning raised its stake 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 worth $152,000 after buying an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.
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EPAM Systems (NYSE EPAM) opened at 82.23 on Tuesday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 44.21 and a beta of 0.99. The firm has a 50-day moving average price of $84.28 and a 200-day moving average price of $77.14. EPAM Systems has a 52 week low of $54.53 and a 52 week high of $87.93.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.74% and a net margin of 8.71%. The business had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342 million. During the same period last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. Analysts anticipate that EPAM Systems will post $3.39 EPS for the current fiscal year.
EPAM Systems Company Profile
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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