EPAM Systems, Inc. (NYSE:EPAM) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday, September 8th.
Several other equities analysts have also recently issued reports on EPAM. Barclays PLC boosted their target price on shares of EPAM Systems from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, May 15th. Wedbush upped their price objective on shares of EPAM Systems from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. 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 objective for the company. UBS AG upped their price objective on shares of EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Berenberg Bank set a $95.00 price objective on shares of EPAM Systems and gave the stock a “buy” rating in a research report on Sunday, August 6th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $91.54.
Shares of EPAM Systems (NYSE:EPAM) traded down 1.46% on Friday, hitting $81.80. The stock had a trading volume of 732,889 shares. The firm has a 50-day moving average of $82.32 and a 200 day moving average of $80.29. The company has a market capitalization of $4.30 billion, a PE ratio of 39.50 and a beta of 0.99. EPAM Systems has a 1-year low of $54.53 and a 1-year high of $87.93.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the 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 business had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342.00 million. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that EPAM Systems will post $3.30 earnings per share for the current fiscal year.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 25,100 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 192,500 shares of company stock worth $15,876,045. 6.17% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. raised its holdings in EPAM Systems by 7.6% during the second quarter. Wasatch Advisors Inc. now owns 543,649 shares of the information technology services provider’s stock worth $45,715,000 after purchasing an additional 38,195 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its position in shares of EPAM Systems by 2.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 362,125 shares of the information technology services provider’s stock worth $30,451,000 after acquiring an additional 6,975 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of EPAM Systems by 3.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,317 shares of the information technology services provider’s stock worth $363,000 after acquiring an additional 153 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of EPAM Systems during the second quarter worth approximately $2,565,000. Finally, CS Mckee LP grew its position in shares of EPAM Systems by 0.6% during the second quarter. CS Mckee LP now owns 17,850 shares of the information technology services provider’s stock worth $1,501,000 after acquiring an additional 100 shares during the last quarter. 87.90% 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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