Cantor Fitzgerald restated their buy rating on shares of EPAM Systems, Inc. (NYSE:EPAM) in a report released on Thursday, November 2nd. The firm currently has a $92.00 target price on the information technology services provider’s stock.
“3Q17 revenues top expectations. Revenue for 3Q17 was $377.5 mn, up 8.2% q/q and 26.6% y/y (24.6% in constant currency), vs. our $366.5 mn estimate and the $368.2 mn FactSet consensus. The FX tailwind of 2% compares to a 0.7% headwind in the previous period. The quarter was the 27th consecutive quarter of over 20% y/y growth and 22nd since the IPO, five years ago. Adjusted operating profit of $62.6 mn (16.6% adjusted operating margin) was up 26% y/y and above the consensus of $59.6 mn. Non-GAAP EPS was $0.92, above our estimate and the consensus of $0.85. Our Performance Table is on pg.”,” Cantor Fitzgerald’s analyst commented.
Several other brokerages have also recently issued reports on EPAM. Zacks Investment Research raised shares of EPAM Systems from a hold rating to a buy rating and set a $102.00 price objective on the stock in a research report on Wednesday, November 1st. KeyCorp reissued a buy rating and issued a $100.00 price objective on shares of EPAM Systems in a research report on Sunday, October 29th. Cowen and Company reissued a buy rating and issued a $95.00 price objective on shares of EPAM Systems in a research report on Thursday, October 12th. Citigroup Inc. increased their price objective 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, BidaskClub raised shares of EPAM Systems from a hold rating to a buy rating in a research report on Tuesday, October 3rd. Fifteen research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average price target of $98.29.
Shares of EPAM Systems (EPAM) traded up $0.24 during trading on Thursday, reaching $102.61. 178,200 shares of the company traded hands, compared to its average volume of 337,315. The company has a market cap of $5,406.42, a P/E ratio of 40.46, a P/E/G ratio of 1.97 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. EPAM Systems has a one year low of $61.11 and a one year high of $103.49.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.85 by $0.07. EPAM Systems had a net margin of 9.41% and a return on equity of 15.70%. The business had revenue of $377.50 million during the quarter, compared to the consensus estimate of $368.22 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue was up 26.6% on a year-over-year basis. analysts anticipate that EPAM Systems will post 2.69 earnings per share for the current fiscal year.
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In other news, SVP Elaina Shekhter sold 1,261 shares of EPAM Systems 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 completion of the sale, the senior vice president now directly owns 10,458 shares in the company, valued at $993,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Arkadiy Dobkin sold 30,000 shares of EPAM Systems stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $80.14, for a total transaction of $2,404,200.00. Following the sale, the chief executive officer now owns 2,110,851 shares of the company’s stock, valued at $169,163,599.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 348,454 shares of company stock valued at $30,770,735. 6.17% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC purchased a new position in shares of EPAM Systems during the second quarter worth $101,000. Jacobi Capital Management LLC purchased a new position in shares of EPAM Systems during the second quarter worth $119,000. PNC Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 378 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 purchasing an additional 166 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of 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 purchasing an additional 1,974 shares during the last quarter. 87.77% of the stock is 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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