EPAM Systems (NYSE:EPAM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report issued on Friday.

EPAM has been the topic of a number of other reports. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. Jefferies Financial Group decreased their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Barclays lowered their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, Morgan Stanley increased their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $257.31.

EPAM Systems Trading Down 7.0 %

Shares of NYSE:EPAM opened at $144.73 on Friday. EPAM Systems has a 1 year low of $144.00 and a 1 year high of $275.49. The firm has a fifty day moving average price of $213.08 and a 200 day moving average price of $219.04. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $8.23 billion, a PE ratio of 18.46, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. Analysts expect that EPAM Systems will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Centre Asset Management LLC bought a new position in EPAM Systems during the 4th quarter valued at about $8,757,000. Oliver Luxxe Assets LLC acquired a new stake in shares of EPAM Systems during the fourth quarter worth approximately $1,889,000. iA Global Asset Management Inc. raised its stake in shares of EPAM Systems by 165.2% in the third quarter. iA Global Asset Management Inc. now owns 3,700 shares of the information technology services provider’s stock valued at $736,000 after acquiring an additional 2,305 shares during the last quarter. DnB Asset Management AS boosted its holdings in shares of EPAM Systems by 26.4% in the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider’s stock worth $2,629,000 after acquiring an additional 2,349 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in EPAM Systems during the 4th quarter worth approximately $245,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.