Pivotal Research initiated coverage on shares of EPAM Systems (NYSE:EPAM) in a research note published on Tuesday morning. The brokerage issued a buy rating and a $120.00 target price on the information technology services provider’s stock.
EPAM has been the subject of a number of other research reports. BidaskClub downgraded shares of EPAM Systems from a hold rating to a sell rating in a report on Wednesday, August 30th. UBS downgraded shares of EPAM Systems from a buy rating to a neutral rating and upped their price target for the stock from $105.00 to $110.00 in a report on Wednesday, November 29th. KeyCorp upped their price target on shares of EPAM Systems from $90.00 to $94.00 and gave the stock an overweight rating in a report on Wednesday, September 13th. Needham & Company LLC reaffirmed a buy rating and set a $110.00 price target (up previously from $90.00) on shares of EPAM Systems in a report on Friday, November 3rd. Finally, Cowen reaffirmed a buy rating and set a $95.00 price target on shares of EPAM Systems in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $100.07.
EPAM Systems (EPAM) traded up $0.06 during midday trading on Tuesday, reaching $97.14. 307,600 shares of the company’s stock were exchanged, compared to its average volume of 335,012. 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 company has a market cap of $5,127.04, a P/E ratio of 38.37, a P/E/G ratio of 1.87 and a beta of 1.00. EPAM Systems has a 52-week low of $61.74 and a 52-week high of $107.91.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.07. The firm had revenue of $377.50 million during the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. research analysts forecast that EPAM Systems will post 2.68 earnings per share for the current fiscal year.
In other EPAM Systems news, SVP Elaina Shekhter sold 500 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total value of $45,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Arkadiy Dobkin sold 19,600 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $103.21, for a total transaction of $2,022,916.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,054 shares of company stock valued at $33,544,681. 6.17% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in EPAM. Acrospire Investment Management LLC acquired a new position in EPAM Systems in the 2nd quarter valued at approximately $101,000. Jacobi Capital Management LLC acquired a new stake in shares of EPAM Systems during the second quarter worth $119,000. PNC Financial Services Group Inc. increased its position in shares of 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 worth $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 worth $134,000 after buying an additional 166 shares during the period. Finally, US Bancorp DE increased its position in shares of 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 worth $175,000 after buying an additional 1,974 shares during the period. Hedge funds and other institutional investors own 91.08% 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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