EPAM Systems, Inc. (NYSE:EPAM) had its price objective decreased by investment analysts at Barclays PLC from $92.00 to $91.00 in a research report issued to clients and investors on Friday. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Barclays PLC’s target price would indicate a potential upside of 9.10% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Monness Crespi & Hardt boosted their price target on EPAM Systems from $82.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target (up previously from $82.00) on shares of EPAM Systems in a research report on Friday, May 5th. Zacks Investment Research upgraded EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Friday, May 5th. Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 target price on shares of EPAM Systems in a research report on Thursday, May 4th. Finally, UBS AG boosted their target price on EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $89.50.
Shares of EPAM Systems (NYSE EPAM) traded up 1.84% during mid-day trading on Friday, hitting $83.41. The stock had a trading volume of 361,714 shares. The firm has a 50 day moving average price of $84.28 and a 200 day moving average price of $77.14. EPAM Systems has a 52-week low of $54.53 and a 52-week high of $87.93. The firm has a market cap of $4.32 billion, a PE ratio of 44.84 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. The firm had revenue of $348.98 million for the quarter, compared to analysts’ expectations of $342 million. EPAM Systems had a return on equity of 15.74% and a net margin of 8.71%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. Equities analysts predict that EPAM Systems will post $3.39 EPS for the current year.
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In other news, SVP Balazs Fejes sold 34,234 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $84.76, for a total transaction of $2,901,673.84. Following the sale, the senior vice president now owns 48,467 shares of the company’s stock, valued at approximately $4,108,062.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elaina Shekhter sold 2,875 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $80.63, for a total value of $231,811.25. Following the sale, the insider now directly owns 12,219 shares in the company, valued at approximately $985,217.97. The disclosure for this sale can be found here. Insiders have sold a total of 63,164 shares of company stock worth $5,365,096 in the last three months. Corporate insiders own 6.17% of the company’s stock.
Large investors have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new stake in shares of EPAM Systems during the first quarter valued at approximately $23,730,000. Wellington Management Group LLP raised its stake in shares of EPAM Systems by 30.0% in the first quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock valued at $69,186,000 after buying an additional 211,513 shares during the period. State of Wisconsin Investment Board purchased a new stake in shares of EPAM Systems during the first quarter valued at approximately $4,154,000. Renaissance Technologies LLC purchased a new stake in shares of EPAM Systems during the fourth quarter valued at approximately $2,855,000. Finally, Swiss National Bank raised its stake in shares of EPAM Systems by 0.9% in the first quarter. Swiss National Bank now owns 75,962 shares of the information technology services provider’s stock valued at $5,737,000 after buying an additional 700 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.
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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