Zacks Investment Research upgraded shares of EPAM Systems, Inc. (NYSE:EPAM) from a hold rating to a buy rating in a report published on Wednesday, November 1st. Zacks Investment Research currently has $102.00 price target on the information technology services provider’s stock.
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. “
EPAM has been the subject of several other research reports. Cowen and Company reiterated a buy rating and set a $95.00 price objective on shares of EPAM Systems in a research note on Friday, September 1st. KeyCorp reaffirmed a buy rating and issued a $100.00 price objective on shares of EPAM Systems in a report on Sunday, October 29th. BidaskClub raised shares of EPAM Systems from a hold rating to a buy rating in a report on Tuesday, October 3rd. Bank of America Corporation started coverage on shares of EPAM Systems in a research report on Tuesday, September 12th. They issued a buy rating and a $95.00 target price for the company. Finally, Credit Suisse Group assumed coverage on shares of EPAM Systems in a report on Tuesday, July 4th. They issued an outperform rating and a $90.00 target price on the stock. Fifteen investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $98.29.
Shares of EPAM Systems (EPAM) opened at $102.80 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.56 and a current ratio of 5.56. The company has a market cap of $5,429.13, a price-to-earnings ratio of 40.63, a PEG ratio of 1.97 and a beta of 0.95. EPAM Systems has a 52-week low of $60.64 and a 52-week high of $103.49.
EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, topping 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 firm had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. During the same period in the previous year, the firm posted $0.76 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. analysts anticipate that EPAM Systems will post 2.69 earnings per share for the current fiscal year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 74,293 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $99.16, for a total transaction of $7,366,893.88. Following the completion of the sale, the chief executive officer now directly owns 1,985,851 shares in the company, valued at approximately $196,916,985.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Elaina Shekhter sold 1,261 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $95.00, for a total value of $119,795.00. Following the sale, the senior vice president now directly owns 10,458 shares of the company’s stock, valued at $993,510. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 348,454 shares of company stock worth $30,770,735. 6.17% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new position in EPAM Systems in the second quarter valued at about $101,000. Jacobi Capital Management LLC acquired a new position in EPAM Systems in the second quarter valued at about $119,000. PNC Financial Services Group Inc. grew its stake in EPAM Systems by 34.9% in 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 acquiring an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in EPAM Systems by 11.6% in 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 acquiring an additional 166 shares during the period. Finally, US Bancorp DE grew its stake in EPAM Systems by 1,762.5% in the second 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 during the period. 87.77% of the stock is owned by hedge funds and other 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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