EPAM Systems, Inc. (EPAM) Price Target Increased to $110.00 by Analysts at Bank of America Corporation

EPAM Systems, Inc. (NYSE:EPAM) had its price target increased by Bank of America Corporation from $95.00 to $110.00 in a report released on Monday, November 6th. They currently have a buy rating on the information technology services provider’s stock.

EPAM has been the topic of several other reports. KeyCorp reiterated a buy rating on shares of EPAM Systems in a report on Friday, October 20th. Cowen Inc reiterated a buy rating and set a $95.00 price objective on shares of EPAM Systems in a report on Friday, September 1st. Zacks Investment Research downgraded shares of EPAM Systems from a buy rating to a hold rating in a research report on Tuesday, October 10th. Citigroup Inc. increased their target price on shares of EPAM Systems from $96.00 to $105.00 and gave the stock a buy rating in a research report on Friday, October 13th. Finally, Cantor Fitzgerald reissued a buy rating and set a $92.00 target price on shares of EPAM Systems in a research report on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. EPAM Systems currently has a consensus rating of Buy and an average target price of $98.29.

Shares of EPAM Systems (NYSE EPAM) opened at $106.78 on Monday. EPAM Systems has a 1 year low of $61.34 and a 1 year high of $106.88. 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 $5,588.63, a PE ratio of 41.83, a P/E/G ratio of 2.03 and a beta of 0.95.

EPAM Systems (NYSE:EPAM) last released its earnings results 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 company had revenue of $377.50 million for the quarter, compared to analyst estimates of $368.22 million. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. analysts anticipate that EPAM Systems will post 2.68 earnings per share for the current fiscal year.

In other news, CEO Arkadiy Dobkin sold 19,600 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $103.21, for a total transaction of $2,022,916.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald P. Vargo sold 4,000 shares of EPAM Systems stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total value of $405,280.00. The disclosure for this sale can be found here. Insiders sold 417,054 shares of company stock worth $38,417,731 over the last quarter. 6.17% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in EPAM Systems by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,919,515 shares of the information technology services provider’s stock worth $329,591,000 after purchasing an additional 105,644 shares in the last quarter. JPMorgan Chase & Co. boosted its position in EPAM Systems by 3.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,148,004 shares of the information technology services provider’s stock worth $268,840,000 after acquiring an additional 119,230 shares during the period. BlackRock Inc. boosted its position in EPAM Systems by 0.5% during the 2nd quarter. BlackRock Inc. now owns 3,010,949 shares of the information technology services provider’s stock worth $253,188,000 after acquiring an additional 15,882 shares during the period. State Street Corp boosted its position in EPAM Systems by 6.5% during the 2nd quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock worth $81,460,000 after acquiring an additional 59,511 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in EPAM Systems by 87.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 926,537 shares of the information technology services provider’s stock worth $81,470,000 after acquiring an additional 432,237 shares during the period. 87.80% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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