EPAM Systems (EPAM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $124.00 target price 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. “

Several other analysts have also recently commented on EPAM. Bank of America started coverage on shares of EPAM Systems in a research note on Tuesday, September 12th. They issued a buy rating and a $95.00 target price for the company. KeyCorp lifted their target price on shares of EPAM Systems from $90.00 to $94.00 and gave the stock an overweight rating in a research note on Wednesday, September 13th. BidaskClub cut shares of EPAM Systems from a buy rating to a hold rating in a research note on Saturday, September 16th. Cowen reaffirmed a buy rating and issued a $95.00 target price on shares of EPAM Systems in a research note on Thursday, October 12th. Finally, Citigroup lifted their target price on shares of EPAM Systems from $96.00 to $105.00 and gave the stock a buy rating in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $102.87.

Shares of EPAM Systems (NYSE EPAM) traded up $0.47 during trading on Wednesday, hitting $110.87. The company had a trading volume of 260,850 shares, compared to its average volume of 292,806. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. EPAM Systems has a 1 year low of $63.32 and a 1 year high of $111.95. The firm has a market cap of $5,820.00, a P/E ratio of 46.98, a P/E/G ratio of 1.72 and a beta of 0.98.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 15.70% and a net margin of 9.41%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. equities research analysts expect that EPAM Systems will post 2.67 earnings per share for the current fiscal year.

In other news, CEO Arkadiy Dobkin sold 15,000 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $91.09, for a total transaction of $1,366,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,010,851 shares of the company’s stock, valued at approximately $183,168,417.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elaina Shekhter sold 1,261 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $95.00, for a total transaction 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. Insiders have sold a total of 229,154 shares of company stock valued at $22,580,185 over the last three months. Corporate insiders own 6.17% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter valued at $101,000. PNC Financial Services Group Inc. boosted its position in EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 166 shares during the period. Clinton Group Inc. purchased a new stake in EPAM Systems during the 2nd quarter worth $216,000. Finally, BT Investment Management Ltd purchased a new stake in EPAM Systems during the 2nd quarter worth $247,000. 89.15% of the stock is owned by institutional investors.

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EPAM Systems Company Profile

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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