Zacks Investment Research upgraded shares of Epam Systems Inc. (NYSE:EPAM) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $72.00 price objective on the stock.
According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “
Several other brokerages have also recently commented on EPAM. Cantor Fitzgerald reissued a buy rating and issued a $75.00 price target on shares of Epam Systems in a research note on Monday, September 12th. Wedbush initiated coverage on Epam Systems in a research note on Thursday, September 8th. They issued an outperform rating and a $82.00 price target for the company. Pacific Crest reissued a buy rating and issued a $77.00 price target on shares of Epam Systems in a research note on Friday, August 5th. Citigroup Inc. reissued a buy rating on shares of Epam Systems in a research note on Saturday, July 9th. Finally, Barclays PLC lowered their price target on Epam Systems from $85.00 to $75.00 and set an equal weight rating for the company in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Epam Systems has a consensus rating of Buy and a consensus price target of $82.18.
Epam Systems (NYSE:EPAM) traded down 0.396% during mid-day trading on Tuesday, hitting $64.314. 7,713 shares of the stock were exchanged. Epam Systems has a one year low of $54.88 and a one year high of $84.41. The company has a 50-day moving average price of $68.08 and a 200-day moving average price of $70.37. The company has a market cap of $3.27 billion, a P/E ratio of 34.264 and a beta of 1.22.
Epam Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The firm earned $283.80 million during the quarter, compared to the consensus estimate of $281.11 million. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, analysts predict that Epam Systems will post $2.99 earnings per share for the current fiscal year.
In related news, insider Anthony J. Conte sold 1,200 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $66.50, for a total value of $79,800.00. Following the completion of the transaction, the insider now directly owns 12,706 shares in the company, valued at $844,949. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.98% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in shares of Epam Systems by 1,498.1% in the second quarter. Alliancebernstein L.P. now owns 1,305,625 shares of the company’s stock worth $83,965,000 after buying an additional 1,223,925 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Epam Systems by 34.4% in the first quarter. JPMorgan Chase & Co. now owns 2,395,446 shares of the company’s stock worth $178,869,000 after buying an additional 612,744 shares during the last quarter. FMR LLC boosted its stake in shares of Epam Systems by 22.5% in the second quarter. FMR LLC now owns 2,714,203 shares of the company’s stock worth $174,550,000 after buying an additional 499,002 shares during the period. Franklin Resources Inc. boosted its stake in shares of Epam Systems by 187.7% in the first quarter. Franklin Resources Inc. now owns 488,700 shares of the company’s stock worth $36,491,000 after buying an additional 318,830 shares during the period. Finally, Whale Rock Capital Management LLC boosted its stake in shares of Epam Systems by 193.8% in the second quarter. Whale Rock Capital Management LLC now owns 414,822 shares of the company’s stock worth $26,677,000 after buying an additional 273,632 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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