EPAM Systems’ (EPAM) “Buy” Rating Reiterated at Cowen and Company
EPAM Systems, Inc. (NYSE:EPAM)‘s stock had its “buy” rating reiterated by Cowen and Company in a report issued on Thursday. They presently have a $95.00 price objective on the information technology services provider’s stock. Cowen and Company’s price objective points to a potential upside of 4.86% from the company’s previous close.
EPAM has been the subject of several other research reports. KeyCorp upped their price objective on shares of EPAM Systems from $90.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. BidaskClub raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Bank of America Corporation began coverage on shares of EPAM Systems in a report on Tuesday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Zacks Investment Research downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Finally, Credit Suisse Group began 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. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $92.23.
Shares of EPAM Systems (NYSE:EPAM) traded down 0.03% during mid-day trading on Thursday, hitting $90.60. 215,845 shares of the company traded hands. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 43.75 and a beta of 0.99. EPAM Systems has a 52-week low of $54.53 and a 52-week high of $90.85. The firm has a 50-day moving average price of $84.92 and a 200 day moving average price of $82.15.
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, topping the consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million during the quarter, compared to analyst estimates of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that EPAM Systems will post $3.30 EPS for the current fiscal year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $80.14, for a total value of $2,404,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,110,851 shares of the company’s stock, valued at approximately $169,163,599.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Elaina Shekhter sold 500 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Insiders sold a total of 243,000 shares of company stock valued at $20,262,045 over the last three months. 6.17% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in EPAM Systems by 2.8% during the second quarter. Vanguard Group Inc. now owns 3,919,515 shares of the information technology services provider’s stock valued at $329,591,000 after buying an additional 105,644 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in EPAM Systems by 6.4% during the second quarter. JPMorgan Chase & Co. now owns 3,028,774 shares of the information technology services provider’s stock valued at $254,691,000 after buying an additional 183,111 shares in the last quarter. BlackRock Inc. lifted its stake in EPAM Systems by 0.5% during the second quarter. BlackRock Inc. now owns 3,010,949 shares of the information technology services provider’s stock valued at $253,188,000 after buying an additional 15,882 shares in the last quarter. State Street Corp lifted its stake in EPAM Systems by 6.5% during the second quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock valued at $81,460,000 after buying an additional 59,511 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in EPAM Systems by 30.0% during the first quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock valued at $69,186,000 after buying an additional 211,513 shares in the last quarter. 87.88% of the stock is owned by 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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