EPAM Systems, Inc. (NYSE:EPAM) had its price objective increased by analysts at Citigroup Inc. from $96.00 to $105.00 in a report issued on Friday. The firm currently has a “buy” rating on the information technology services provider’s stock. Citigroup Inc.’s price target would indicate a potential upside of 15.89% from the company’s current price.
Other research analysts have also issued reports about the company. Cowen and Company reissued a “buy” rating and issued a $95.00 price objective on shares of EPAM Systems in a research report on Thursday. BidaskClub lowered EPAM Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 30th. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the stock a “buy” rating in a research report on Sunday, August 6th. KeyCorp lifted their target price on EPAM Systems from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 13th. Finally, UBS AG lifted 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, August 4th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $93.14.
EPAM Systems (NYSE:EPAM) traded down 0.15% during midday trading on Friday, hitting $90.46. The company had a trading volume of 29,035 shares. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 43.68 and a beta of 0.99. The stock has a 50 day moving average of $84.92 and a 200 day moving average of $82.15. EPAM Systems has a 52-week low of $54.53 and a 52-week high of $91.00.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.62 by $0.18. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The company had revenue of $348.98 million for the quarter, compared to analyst estimates of $342.00 million. During the same period last year, the company posted $0.71 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. On average, analysts anticipate that EPAM Systems will post $3.30 EPS for the current year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 5,000 shares of EPAM Systems stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $78.86, for a total value of $394,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,105,851 shares in the company, valued at $166,067,409.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Elaina Shekhter sold 500 shares of EPAM Systems stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,000 shares of company stock valued at $20,262,045. 6.17% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of EPAM. BlackRock Inc. boosted its stake in EPAM Systems by 76,013.5% in the first quarter. BlackRock Inc. now owns 2,995,067 shares of the information technology services provider’s stock valued at $226,186,000 after acquiring an additional 2,991,132 shares during the period. Macquarie Group Ltd. acquired a new position in EPAM Systems in the second quarter valued at approximately $27,404,000. Driehaus Capital Management LLC acquired a new position in EPAM Systems in the first quarter valued at approximately $20,897,000. Mesirow Financial Investment Management Equity Management acquired a new position in EPAM Systems in the second quarter valued at approximately $18,578,000. Finally, Wellington Management Group LLP boosted its stake in 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 acquiring an additional 211,513 shares during the period. Institutional investors own 87.88% of the company’s stock.
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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