EPAM Systems’ (EPAM) “Buy” Rating Reaffirmed at UBS AG
EPAM Systems, Inc. (NYSE:EPAM)‘s stock had its “buy” rating reissued by equities research analysts at UBS AG in a research report issued on Friday, www.benzinga.com reports. They presently have a $105.00 price target on the information technology services provider’s stock, up from their prior price target of $96.00. UBS AG’s target price would indicate a potential upside of 5.35% from the company’s previous close.
A number of other research analysts have also issued reports on the stock. KeyCorp reiterated a “buy” rating on shares of EPAM Systems in a research note on Friday, October 20th. Cowen and Company reiterated a “buy” rating and issued a $95.00 target price on shares of EPAM Systems in a research note on Friday, September 1st. Bank of America Corporation initiated coverage on shares of EPAM Systems in a research note on Tuesday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Citigroup Inc. raised their target price on shares of EPAM Systems from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Fifteen investment analysts have rated the stock with a buy rating, EPAM Systems currently has a consensus rating of “Buy” and an average target price of $97.21.
Shares of EPAM Systems (EPAM) traded up $0.52 during trading hours on Friday, hitting $99.67. 391,254 shares of the company traded hands, compared to its average volume of 264,660. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.03. The stock has a market cap of $5,234.97, a P/E ratio of 39.40, a PEG ratio of 2.12 and a beta of 0.95. EPAM Systems has a fifty-two week low of $54.53 and a fifty-two week high of $100.30.
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, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. EPAM Systems had a net margin of 9.41% and a return on equity of 16.35%. The business had revenue of $377.50 million during the quarter, compared to the consensus estimate of $368.22 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. sell-side analysts predict that EPAM Systems will post 2.55 EPS for the current year.
In other news, SVP Elaina Shekhter sold 500 shares of EPAM Systems 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arkadiy Dobkin sold 25,100 shares of EPAM Systems 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 disclosure for this sale can be found here. Insiders sold a total of 288,000 shares of company stock worth $24,354,345 over the last 90 days. Company insiders own 6.17% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of EPAM Systems during the 2nd quarter valued at about $101,000. Jacobi Capital Management LLC acquired a new stake in shares of EPAM Systems during the 2nd quarter valued at about $119,000. PNC Financial Services Group Inc. boosted its position in shares of EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 166 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of EPAM Systems by 1,762.5% during the 2nd quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after acquiring an additional 1,974 shares in the last quarter. Institutional investors and hedge funds own 87.89% 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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