Wedbush Reiterates Outperform Rating for EPAM Systems (NYSE:EPAM)

EPAM Systems (NYSE:EPAM)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $340.00 price objective on the information technology services provider’s stock. Wedbush’s price target points to a potential upside of 27.12% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler reiterated an “overweight” rating and set a $369.00 target price on shares of EPAM Systems in a research note on Monday, March 4th. HSBC lowered their price objective on EPAM Systems from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Mizuho increased their price objective on shares of EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Susquehanna lifted their target price on shares of EPAM Systems from $300.00 to $360.00 and gave the company a “positive” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and an average target price of $331.33.

EPAM Systems Stock Performance

EPAM stock traded down $6.70 during mid-day trading on Wednesday, reaching $267.47. 179,181 shares of the stock traded hands, compared to its average volume of 499,155. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $290.77 and a two-hundred day moving average of $273.71. The firm has a market capitalization of $15.47 billion, a PE ratio of 37.78, a P/E/G ratio of 11.77 and a beta of 1.43. EPAM Systems has a 52 week low of $197.99 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.24. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, equities analysts predict that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Activity

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the transaction, the executive vice president now directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,820 shares of company stock worth $5,101,117. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in EPAM Systems in the fourth quarter valued at approximately $184,713,000. Price T Rowe Associates Inc. MD lifted its stake in shares of EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares during the period. International Assets Investment Management LLC bought a new position in shares of EPAM Systems in the 4th quarter worth $663,080,000. State Street Corp increased its holdings in EPAM Systems by 9.1% in the first quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock valued at $733,197,000 after purchasing an additional 206,636 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in EPAM Systems by 317.4% in the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock valued at $78,276,000 after purchasing an additional 200,181 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.