EPAM Systems (NYSE:EPAM) PT Raised to $263.00

EPAM Systems (NYSE:EPAM) had its target price lifted by equities researchers at Citigroup from $230.00 to $263.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Citigroup‘s price target suggests a potential upside of 15.77% from the company’s current price.

Other analysts have also issued research reports about the stock. Wedbush raised their target price on shares of EPAM Systems from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday. Wolfe Research lowered shares of EPAM Systems from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 6th. ValuEngine lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen restated an “outperform” rating and issued a $225.00 target price (up previously from $215.00) on shares of EPAM Systems in a research report on Friday, November 22nd. Finally, Wells Fargo & Co raised their target price on shares of EPAM Systems from $222.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. EPAM Systems presently has an average rating of “Buy” and an average price target of $219.82.

Shares of EPAM Systems stock opened at $227.17 on Wednesday. EPAM Systems has a fifty-two week low of $130.10 and a fifty-two week high of $229.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.38 and a quick ratio of 4.38. The firm has a market capitalization of $12.57 billion, a P/E ratio of 58.10, a P/E/G ratio of 2.07 and a beta of 1.47. The company’s 50 day moving average price is $213.31 and its two-hundred day moving average price is $194.32.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, November 7th. The information technology services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.06. EPAM Systems had a net margin of 11.38% and a return on equity of 18.44%. The firm had revenue of $588.10 million for the quarter, compared to analyst estimates of $579.82 million. During the same quarter last year, the business posted $1.17 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, analysts expect that EPAM Systems will post 4.43 earnings per share for the current year.

In related news, EVP Balazs Fejes sold 23,180 shares of EPAM Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $205.29, for a total transaction of $4,758,622.20. Following the completion of the transaction, the executive vice president now owns 34,729 shares of the company’s stock, valued at $7,129,516.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald P. Vargo sold 2,000 shares of EPAM Systems stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $204.92, for a total transaction of $409,840.00. Insiders have sold 59,942 shares of company stock valued at $12,260,151 in the last ninety days. Insiders own 5.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its stake in EPAM Systems by 419.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 10,191 shares of the information technology services provider’s stock worth $1,764,000 after buying an additional 8,230 shares during the last quarter. BlackRock Inc. raised its stake in EPAM Systems by 24.4% during the second quarter. BlackRock Inc. now owns 2,857,844 shares of the information technology services provider’s stock worth $494,692,000 after buying an additional 560,378 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in EPAM Systems by 2.6% during the third quarter. Pictet Asset Management Ltd. now owns 19,600 shares of the information technology services provider’s stock worth $3,573,000 after buying an additional 500 shares during the last quarter. State Street Corp raised its stake in EPAM Systems by 0.6% during the third quarter. State Street Corp now owns 1,084,205 shares of the information technology services provider’s stock worth $197,672,000 after buying an additional 5,958 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in EPAM Systems during the second quarter worth $1,431,000. 89.86% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Company Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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