Pivotal Research Begins Coverage on EPAM Systems (EPAM)
Stock analysts at Pivotal Research began coverage on shares of EPAM Systems (NYSE:EPAM) in a research report issued on Tuesday. The firm set a “buy” rating and a $120.00 price target on the information technology services provider’s stock. Pivotal Research’s price objective suggests a potential upside of 23.61% from the company’s current price.
A number of other equities analysts have also weighed in on EPAM. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Jefferies Group set a $95.00 price objective on shares of EPAM Systems and gave the company a “buy” rating in a research report on Thursday, August 17th. BidaskClub lowered shares of EPAM Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 30th. Cowen reiterated a “buy” rating and issued a $95.00 price objective on shares of EPAM Systems in a research report on Friday, September 1st. Finally, Bank of America started coverage on shares of EPAM Systems in a research report on Tuesday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $100.07.
EPAM Systems (NYSE EPAM) opened at $97.08 on Tuesday. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.03. The stock has a market cap of $5,228.97, a P/E ratio of 39.13, a PEG ratio of 1.90 and a beta of 1.00. EPAM Systems has a 1 year low of $61.74 and a 1 year high of $107.91.
EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The business 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 15.70%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. research analysts predict that EPAM Systems will post 2.68 EPS for the current year.
In other EPAM Systems news, CEO Arkadiy Dobkin sold 56,945 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $84.79, for a total transaction of $4,828,366.55. Following the sale, the chief executive officer now directly owns 2,070,851 shares in the company, valued at approximately $175,587,456.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elaina Shekhter sold 500 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was 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. Insiders have sold a total of 357,054 shares of company stock worth $33,544,681 over the last 90 days. Insiders own 6.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter worth $101,000. Jacobi Capital Management LLC acquired a new position in shares of EPAM Systems during the 2nd quarter worth $119,000. PNC Financial Services Group Inc. raised its stake in shares of 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 buying an additional 378 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 buying an additional 166 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of EPAM Systems by 1,762.5% during the 2nd quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after buying an additional 1,974 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.
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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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