EPAM Systems, Inc. (EPAM) Upgraded at BidaskClub
EPAM Systems, Inc. (NYSE:EPAM) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
A number of other research analysts have also commented on EPAM. Credit Suisse Group began coverage on shares of EPAM Systems in a research note on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 price objective on the stock. UBS AG increased their target price on shares of EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Barclays PLC lowered their price target on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Berenberg Bank set a $95.00 price target on EPAM Systems and gave the stock a “buy” rating in a report on Sunday, August 6th. Finally, Zacks Investment Research cut EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Fourteen equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $92.23.
EPAM Systems (EPAM) traded up 1.40% during mid-day trading on Tuesday, hitting $89.33. 429,902 shares of the stock were exchanged. The company has a 50 day moving average price of $83.11 and a 200 day moving average price of $81.41. EPAM Systems has a 52-week low of $54.53 and a 52-week high of $89.79. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 43.13 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.62 by $0.18. The firm had revenue of $348.98 million during the quarter, compared to the consensus estimate of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. EPAM Systems’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, analysts anticipate that EPAM Systems will post $3.30 EPS for the current year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $78.86, for a total transaction of $394,300.00. Following the transaction, the chief executive officer now owns 2,105,851 shares in the company, valued at approximately $166,067,409.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 212,500 shares of company stock valued at $17,544,745. 6.17% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in shares of EPAM Systems by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,528 shares of the information technology services provider’s stock worth $549,000 after purchasing an additional 17 shares during the period. Renaissance Group LLC increased its holdings in shares of EPAM Systems by 0.6% in the 2nd quarter. Renaissance Group LLC now owns 3,819 shares of the information technology services provider’s stock valued at $321,000 after purchasing an additional 21 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of EPAM Systems by 0.9% in the 2nd quarter. D.A. Davidson & CO. now owns 4,361 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 39 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of EPAM Systems by 1.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,624 shares of the information technology services provider’s stock valued at $557,000 after purchasing an additional 70 shares in the last quarter. Finally, CS Mckee LP lifted its stake in shares of EPAM Systems by 0.6% in the second quarter. CS Mckee LP now owns 17,850 shares of the information technology services provider’s stock valued at $1,501,000 after purchasing an additional 100 shares during the period. Institutional investors own 87.88% of the company’s stock.
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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