EPAM Systems, Inc. (EPAM) PT Raised to $110.00
EPAM Systems, Inc. (NYSE:EPAM) had its price objective raised by stock analysts at Bank of America Corporation from $95.00 to $110.00 in a report released on Monday. The firm presently has a “buy” rating on the information technology services provider’s stock. Bank of America Corporation’s price objective points to a potential upside of 9.99% from the stock’s previous close.
Several other research firms have also weighed in on EPAM. Citigroup Inc. lifted their target price on shares of EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday. UBS AG restated a “buy” rating and set a $105.00 target price (up previously from $96.00) on shares of EPAM Systems in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $110.00 target price (up previously from $90.00) on shares of EPAM Systems in a report on Friday. Zacks Investment Research upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Wednesday, November 1st. Finally, Cantor Fitzgerald restated a “buy” rating and set a $92.00 target price on shares of EPAM Systems in a report on Thursday. Fifteen research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $98.29.
Shares of EPAM Systems (EPAM) traded up $0.34 on Monday, hitting $100.01. 159,167 shares of the company’s stock were exchanged, compared to its average volume of 268,698. The firm has a market cap of $5,255.43, a price-to-earnings ratio of 39.40, a PEG ratio of 2.12 and a beta of 0.95. EPAM Systems has a 52 week low of $54.53 and a 52 week high of $100.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.05 and a current ratio of 6.05.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share 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 16.35%. EPAM Systems’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. equities research analysts anticipate that EPAM Systems will post 2.55 EPS for the current year.
In related news, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 25,100 shares of EPAM Systems stock in a transaction on Monday, August 14th. The stock was sold at an average price of $80.49, for a total transaction of $2,020,299.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,000 shares of company stock worth $24,354,345 in the last ninety days. 6.17% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of EPAM Systems by 50.2% in the 3rd quarter. Sei Investments Co. now owns 31,880 shares of the information technology services provider’s stock worth $2,803,000 after purchasing an additional 10,657 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in shares of EPAM Systems in the 3rd quarter worth about $1,114,000. Bessemer Group Inc. increased its position in shares of EPAM Systems by 34.9% in the 3rd quarter. Bessemer Group Inc. now owns 31,300 shares of the information technology services provider’s stock worth $2,752,000 after purchasing an additional 8,100 shares during the last quarter. Swiss National Bank increased its position in shares of EPAM Systems by 1.9% in the 3rd quarter. Swiss National Bank now owns 82,362 shares of the information technology services provider’s stock worth $7,242,000 after purchasing an additional 1,500 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of EPAM Systems by 8.7% in the 3rd quarter. American Century Companies Inc. now owns 7,278 shares of the information technology services provider’s stock worth $640,000 after purchasing an additional 581 shares during the last quarter. 88.60% of the stock is owned by institutional investors.
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.
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