EPAM Systems, Inc. (EPAM) Lifted to Buy at Zacks Investment Research
EPAM Systems, Inc. (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $102.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 2.34% from the company’s previous close.
According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “
Other equities research analysts have also recently issued research reports about the stock. KeyCorp reaffirmed a “buy” rating on shares of EPAM Systems in a research note on Friday, October 20th. Barclays PLC lowered their target price on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. BidaskClub cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. UBS AG lifted 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. Finally, Berenberg Bank set a $95.00 target price on shares of EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. Fifteen analysts have rated the stock with a buy rating, EPAM Systems has a consensus rating of “Buy” and an average price target of $96.86.
Shares of EPAM Systems (EPAM) traded up $9.06 during midday trading on Wednesday, reaching $99.67. 391,254 shares of the company traded hands, compared to its average volume of 264,660. The company has a market capitalization of $5.21 billion, a PE ratio of 39.19 and a beta of 0.95.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.85 by $0.07. The company had revenue of $377.50 million during the quarter, compared to analyst estimates of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 16.35%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. equities research analysts forecast that EPAM Systems will post 2.55 earnings per share for the current fiscal year.
In other news, CEO Arkadiy Dobkin sold 25,100 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.49, for a total transaction of $2,020,299.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Elaina Shekhter sold 500 shares of the business’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. In the last three months, insiders have sold 288,000 shares of company stock worth $24,354,345. Corporate insiders own 6.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. lifted its position in EPAM Systems by 0.3% in the second 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 during the last quarter. Renaissance Group LLC lifted its position in EPAM Systems by 0.6% in the second 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 during the last quarter. D.A. Davidson & CO. lifted its position in EPAM Systems by 0.9% in the second 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 during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in EPAM Systems by 1.1% in the second 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 during the last quarter. Finally, CS Mckee LP lifted its position in 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 buying an additional 100 shares during the last quarter. 87.89% of the stock is currently 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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