EPAM Systems, Inc. (NYSE:EPAM) had its target price hoisted by analysts at Citigroup Inc. from $96.00 to $105.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Citigroup Inc.’s price target points to a potential upside of 15.89% from the stock’s current price.

Several other equities research analysts have also commented on EPAM. Credit Suisse Group initiated coverage on shares of EPAM Systems in a research report on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price target for the company. BidaskClub lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG upped their price target on shares of EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Barclays PLC reduced their price target on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. Finally, Berenberg Bank set a $95.00 price target on shares of EPAM Systems and gave the company a “buy” rating in a research report on Sunday, August 6th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. EPAM Systems currently has an average rating of “Buy” and an average price target of $93.14.

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 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 firm had revenue of $348.98 million during the quarter, compared to analyst estimates of $342.00 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year.

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In other EPAM Systems news, SVP Elaina Shekhter sold 500 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arkadiy Dobkin sold 25,100 shares of the stock in a transaction that occurred 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. 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 currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in 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 valued at $549,000 after buying an additional 17 shares in the last quarter. Renaissance Group LLC grew its holdings in EPAM Systems by 0.6% during the 2nd quarter. Renaissance Group LLC now owns 3,819 shares of the information technology services provider’s stock valued at $321,000 after buying an additional 21 shares in the last quarter. D.A. Davidson & CO. grew its holdings in EPAM Systems by 0.9% during 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 buying an additional 39 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in EPAM Systems by 1.1% during 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 buying an additional 70 shares in the last quarter. Finally, CS Mckee LP grew its holdings in EPAM Systems by 0.6% during the 2nd quarter. CS Mckee LP now owns 17,850 shares of the information technology services provider’s stock valued at $1,501,000 after buying an additional 100 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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