Needham & Company LLC Increases EPAM Systems (EPAM) Price Target to $130.00

EPAM Systems (NYSE:EPAM) had its price target upped by equities research analysts at Needham & Company LLC to $130.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 15.00% from the company’s current price. The analysts noted that the move was a valuation call.

Several other brokerages also recently commented on EPAM. Pivotal Research initiated coverage on EPAM Systems in a research note on Tuesday, December 5th. They issued a “buy” rating and a $120.00 price objective for the company. Cantor Fitzgerald increased their price objective on EPAM Systems to $130.00 and gave the stock an “overweight” rating in a research note on Monday. Cowen set a $115.00 price objective on EPAM Systems and gave the stock a “buy” rating in a research note on Monday, December 11th. Stifel Nicolaus reissued a “buy” rating and issued a $135.00 price objective (up from $105.00) on shares of EPAM Systems in a research note on Friday, February 16th. Finally, UBS Group reissued a “buy” rating and issued a $105.00 price objective (up from $96.00) on shares of EPAM Systems in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $113.94.

EPAM Systems (NYSE EPAM) opened at $113.04 on Tuesday. EPAM Systems has a 52 week low of $70.22 and a 52 week high of $119.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.56 and a current ratio of 5.56. The firm has a market capitalization of $5,940.00, a P/E ratio of 41.56, a P/E/G ratio of 1.74 and a beta of 0.93.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Friday, February 16th. The information technology services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. EPAM Systems had a return on equity of 16.80% and a net margin of 5.02%. The business had revenue of $399.30 million for the quarter, compared to the consensus estimate of $395.78 million. During the same period in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. analysts anticipate that EPAM Systems will post 3.32 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in EPAM. PNC Financial Services Group Inc. grew its holdings in EPAM Systems by 34.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 378 shares during the period. Parametric Portfolio Associates LLC grew its holdings in EPAM Systems by 114.7% during the second quarter. Parametric Portfolio Associates LLC now owns 43,348 shares of the information technology services provider’s stock valued at $3,645,000 after purchasing an additional 23,162 shares during the period. Stifel Financial Corp grew its holdings in EPAM Systems by 14.1% during the second quarter. Stifel Financial Corp now owns 5,263 shares of the information technology services provider’s stock valued at $439,000 after purchasing an additional 649 shares during the period. State Street Corp grew its holdings in EPAM Systems by 6.5% during the second quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock valued at $81,460,000 after purchasing an additional 59,511 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in EPAM Systems by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 37,474 shares of the information technology services provider’s stock valued at $3,151,000 after purchasing an additional 423 shares during the period. 90.23% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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