Pivotal Research initiated coverage on shares of EPAM Systems (NYSE:EPAM) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $120.00 price target on the information technology services provider’s stock. Pivotal Research’s target price points to a potential upside of 23.53% from the company’s current price.

Several other analysts have also issued reports on the stock. UBS lowered shares of EPAM Systems from a “buy” rating to a “neutral” rating and raised their price target for the stock from $105.00 to $110.00 in a research report on Wednesday, November 29th. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Bank of America raised their price target on shares of EPAM Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Citigroup raised their price target on shares of EPAM Systems from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $110.00 price target (up from $90.00) on shares of EPAM Systems in a research report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $100.07.

EPAM Systems (NYSE:EPAM) traded up $0.06 during trading hours on Tuesday, reaching $97.14. 307,694 shares of the company were exchanged, compared to its average volume of 335,012. EPAM Systems has a 1-year low of $61.74 and a 1-year high of $107.91. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.03. The firm has a market cap of $5,100.00, a price-to-earnings ratio of 39.13, a PEG ratio of 1.90 and a beta of 0.99.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The business had revenue of $377.50 million for the quarter, compared to analyst estimates of $368.22 million. During the same period last year, the business posted $0.76 EPS. EPAM Systems’s revenue was up 26.6% compared to the same quarter last year. equities analysts anticipate that EPAM Systems will post 2.68 EPS for the current fiscal year.

In other EPAM Systems news, CEO Arkadiy Dobkin sold 56,945 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $84.79, for a total value of $4,828,366.55. Following the completion of the transaction, the chief executive officer now directly owns 2,070,851 shares of the company’s stock, valued at $175,587,456.29. 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 stock was 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 have sold a total of 357,054 shares of company stock valued at $33,544,681 over the last three months. 6.17% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC acquired a new position in EPAM Systems during the second quarter valued at approximately $101,000. Jacobi Capital Management LLC acquired a new position in EPAM Systems during the second quarter valued at approximately $119,000. PNC Financial Services Group Inc. grew its holdings in EPAM Systems by 34.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in EPAM Systems by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 166 shares during the period. Finally, US Bancorp DE grew its holdings in EPAM Systems by 1,762.5% during the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after purchasing an additional 1,974 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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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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