EPAM Systems (NYSE:EPAM) Now Covered by Analysts at Barclays

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Barclays began coverage on shares of EPAM Systems (NYSE:EPAM) in a research report sent to investors on Friday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $214.00 price target on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald raised their price objective on EPAM Systems from $187.00 to $212.00 and gave the company an overweight rating in a research note on Friday, August 9th. Cowen raised their price objective on EPAM Systems from $180.00 to $210.00 and gave the company a positive rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded EPAM Systems from a hold rating to a buy rating and set a $199.00 price objective on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $179.80.

Shares of EPAM opened at $185.79 on Friday. EPAM Systems has a 12-month low of $104.77 and a 12-month high of $201.00. The business’s fifty day moving average is $187.53 and its 200 day moving average is $178.06. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.12 billion, a P/E ratio of 43.12, a P/E/G ratio of 2.11 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. EPAM Systems had a return on equity of 18.90% and a net margin of 11.98%. The company had revenue of $551.60 million for the quarter, compared to analysts’ expectations of $549.84 million. During the same period last year, the business earned $1.01 EPS. EPAM Systems’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, analysts expect that EPAM Systems will post 4.36 EPS for the current year.

In other news, CMO Elaina Shekhter sold 2,800 shares of EPAM Systems stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $195.00, for a total transaction of $546,000.00. Following the sale, the chief marketing officer now directly owns 10,459 shares in the company, valued at approximately $2,039,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason D. Peterson sold 3,469 shares of EPAM Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $186.92, for a total value of $648,425.48. Following the sale, the chief financial officer now owns 15,473 shares in the company, valued at $2,892,213.16. The disclosure for this sale can be found here. Insiders have sold a total of 21,861 shares of company stock worth $3,880,459 over the last quarter. Company insiders own 5.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in EPAM Systems by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,743,727 shares of the information technology services provider’s stock worth $821,140,000 after acquiring an additional 59,165 shares during the last quarter. BlackRock Inc. increased its holdings in EPAM Systems by 24.4% in the 2nd quarter. BlackRock Inc. now owns 2,857,844 shares of the information technology services provider’s stock worth $494,692,000 after acquiring an additional 560,378 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in EPAM Systems by 1.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,701,508 shares of the information technology services provider’s stock worth $467,170,000 after acquiring an additional 39,168 shares during the last quarter. Invesco Ltd. increased its holdings in EPAM Systems by 68.6% in the 2nd quarter. Invesco Ltd. now owns 2,337,667 shares of the information technology services provider’s stock worth $404,650,000 after acquiring an additional 950,958 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in EPAM Systems by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 1,581,263 shares of the information technology services provider’s stock worth $267,438,000 after acquiring an additional 165,855 shares during the last quarter. 90.53% of the stock is owned by institutional investors.

About EPAM Systems

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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