Jefferies Group LLC Reiterates “$95.00” Price Target for EPAM Systems, Inc. (EPAM)
EPAM Systems, Inc. (NYSE:EPAM) has been given a $95.00 price objective by Jefferies Group LLC in a research note issued on Thursday. The firm presently has a “buy” rating on the information technology services provider’s stock. Jefferies Group LLC’s price objective points to a potential upside of 18.82% from the stock’s previous close.
EPAM has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective (up from $82.00) on shares of EPAM Systems in a report on Friday, May 5th. Zacks Investment Research upgraded shares of EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, May 5th. Credit Suisse Group initiated coverage on shares of EPAM Systems in a report on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 price objective for the company. Barclays PLC reaffirmed an “overweight” rating and set a $84.00 target price (up previously from $80.00) on shares of EPAM Systems in a research note on Friday, May 5th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $78.00 target price on shares of EPAM Systems in a research note on Thursday, May 4th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $90.60.
Shares of EPAM Systems (NYSE:EPAM) traded down 0.16% on Thursday, reaching $79.82. The company’s stock had a trading volume of 77,701 shares. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 38.54 and a beta of 0.99. The stock has a 50 day moving average of $83.86 and a 200-day moving average of $78.27. EPAM Systems has a 12 month low of $54.53 and a 12 month high of $87.93.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.18. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The business had revenue of $348.98 million during the quarter, compared to analyst estimates of $342 million. During the same period last year, the business posted $0.71 earnings per share. EPAM Systems’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, analysts anticipate that EPAM Systems will post $3.32 EPS for the current year.
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In related news, SVP Ginger Mosier sold 26,055 shares of EPAM Systems stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $85.65, for a total transaction of $2,231,610.75. Following the transaction, the senior vice president now owns 12,733 shares in the company, valued at approximately $1,090,581.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arkadiy Dobkin sold 25,100 shares of EPAM Systems stock in a transaction on Monday, August 14th. The shares were sold at an average price of $80.49, for a total transaction of $2,020,299.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,389 shares of company stock valued at $7,153,584. 6.17% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in EPAM Systems during the second quarter worth $101,000. Jacobi Capital Management LLC purchased a new position in EPAM Systems during the second quarter worth $119,000. PNC Financial Services Group Inc. boosted its position in EPAM Systems by 34.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in EPAM Systems by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after buying an additional 166 shares during the period. Finally, Creative Planning boosted its position in 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 period. Institutional investors own 95.28% of the company’s stock.
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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