EPAM Systems, Inc. (NYSE:EPAM) had its target price increased by Citigroup Inc. from $105.00 to $110.00 in a research note published on Friday, November 3rd. Citigroup Inc. currently has a buy rating on the information technology services provider’s stock.
Several other brokerages have also recently issued reports on EPAM. KeyCorp restated a buy rating on shares of EPAM Systems in a research note on Friday, October 20th. Needham & Company LLC reiterated a buy rating and issued a $110.00 target price (up from $90.00) on shares of EPAM Systems in a research note on Friday, November 3rd. Barclays PLC cut their target price on EPAM Systems from $92.00 to $91.00 and set an overweight rating on the stock in a research note on Friday, August 4th. BidaskClub cut EPAM Systems from a buy rating to a hold rating in a research note on Monday, July 31st. Finally, UBS AG reiterated a buy rating and issued a $105.00 target price (up from $96.00) on shares of EPAM Systems in a research note on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. EPAM Systems currently has an average rating of Buy and a consensus price target of $98.29.
Shares of EPAM Systems (EPAM) traded down $0.13 on Friday, reaching $105.82. The company had a trading volume of 157,139 shares, compared to its average volume of 333,490. EPAM Systems has a 52-week low of $61.34 and a 52-week high of $106.55. The company has a market capitalization of $5,472.97, a PE ratio of 40.96, a PEG ratio of 1.99 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56.
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In related news, CEO Arkadiy Dobkin sold 75,000 shares of EPAM Systems stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $101.64, for a total transaction of $7,623,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,054 shares of company stock worth $38,417,731. Company insiders own 6.17% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in EPAM Systems during the second quarter worth about $101,000. Jacobi Capital Management LLC acquired a new position in EPAM Systems during the second quarter worth about $119,000. PNC Financial Services Group Inc. grew its holdings in 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 acquiring an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 acquiring an additional 166 shares during the period. Finally, US Bancorp DE grew its holdings in 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 acquiring an additional 1,974 shares during the period. 87.80% of the stock is currently owned by hedge funds and other institutional investors.
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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