EPAM Systems (NYSE:EPAM) Price Target Raised to $172.00

EPAM Systems (NYSE:EPAM) had its price target hoisted by Citigroup from $140.00 to $172.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. lowered EPAM Systems from an “overweight” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Wednesday, August 26th. Needham & Company LLC boosted their target price on shares of EPAM Systems from $120.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded shares of EPAM Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Susquehanna raised their target price on shares of EPAM Systems from $146.00 to $190.00 and gave the company a “positive” rating in a research report on Friday, November 6th. Finally, Wedbush raised their price target on EPAM Systems from $99.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, EPAM Systems currently has an average rating of “Hold” and a consensus target price of $149.27.

EPAM Systems Stock Down 0.1%

NYSE EPAM opened at $163.61 on Wednesday. EPAM Systems has a 1-year low of $73.06 and a 1-year high of $222.53. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $126.35 and its two-hundred day moving average is $120.00. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.55 and a beta of 1.28.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 5th. The information technology services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.10. EPAM Systems had a net margin of 7.53% and a return on equity of 16.76%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $3.08 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts forecast that EPAM Systems will post 10.50 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EPAM Systems news, SVP Lawrence Solomon sold 3,299 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $160.14, for a total transaction of $528,301.86. Following the sale, the senior vice president directly owned 30,390 shares of the company’s stock, valued at $4,866,654.60. The trade was a 9.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP raised its stake in shares of EPAM Systems by 2.1% during the 3rd quarter. Caxton Associates LLP now owns 34,904 shares of the information technology services provider’s stock worth $3,782,000 after purchasing an additional 721 shares during the period. First Trust Advisors LP increased its position in shares of EPAM Systems by 156.3% during the 3rd quarter. First Trust Advisors LP now owns 662,143 shares of the information technology services provider’s stock valued at $71,750,000 after purchasing an additional 403,838 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in EPAM Systems in the third quarter worth $1,997,000. Ieq Capital LLC lifted its position in EPAM Systems by 151.2% in the third quarter. Ieq Capital LLC now owns 9,470 shares of the information technology services provider’s stock valued at $1,026,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in EPAM Systems by 29.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 232,670 shares of the information technology services provider’s stock valued at $27,137,000 after buying an additional 53,213 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

About EPAM Systems

EPAM Systems is a global provider of software engineering, digital transformation and consulting services. The company helps businesses design, build and maintain software products and digital platforms, and offers services in areas such as cloud computing, data and artificial intelligence, and cybersecurity. Founded in 1993 by Arkadiy Dobkin, EPAM has grown from a software development firm into a technology services company serving clients across the Americas, Europe and Asia-Pacific. It works with organizations in industries including financial services, healthcare, retail and technology.