Epam Systems Inc. (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $72.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.46% from the company’s current price.
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 also recently weighed in on EPAM. Wedbush assumed coverage on shares of Epam Systems in a research report on Thursday, September 8th. They issued an “outperform” rating and a $82.00 price objective on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price objective on shares of Epam Systems in a research report on Monday, September 12th. Pacific Crest reiterated a “buy” rating and issued a $77.00 price objective on shares of Epam Systems in a research report on Friday, August 5th. Citigroup Inc. reiterated a “buy” rating on shares of Epam Systems in a research report on Saturday, July 9th. Finally, Barclays PLC cut their price objective on shares of Epam Systems from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $82.18.
Shares of Epam Systems (NYSE:EPAM) opened at 64.60 on Tuesday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 34.42 and a beta of 1.22. Epam Systems has a 52-week low of $54.88 and a 52-week high of $84.41. The stock has a 50 day moving average of $67.99 and a 200 day moving average of $70.33.
Epam Systems (NYSE:EPAM) last posted 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. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The business earned $283.80 million during the quarter, compared to analyst estimates of $281.11 million. During the same period last year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. On average, analysts predict that Epam Systems will post $2.99 EPS for the current fiscal year.
In other news, insider Anthony J. Conte sold 1,200 shares of Epam Systems stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $66.50, for a total value of $79,800.00. Following the transaction, the insider now directly owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.98% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Epam Systems by 33.2% in the first quarter. Wellington Management Group LLP now owns 1,084,823 shares of the company’s stock worth $81,004,000 after buying an additional 270,389 shares during the last quarter. State Street Corp increased its position in shares of Epam Systems by 2.9% in the first quarter. State Street Corp now owns 864,567 shares of the company’s stock worth $64,560,000 after buying an additional 24,531 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock worth $159,000 after buying an additional 2,081 shares during the last quarter. BlackRock Inc. increased its position in shares of Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock worth $241,000 after buying an additional 1,828 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Epam Systems by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 125,072 shares of the company’s stock worth $9,339,000 after buying an additional 22,825 shares during the last quarter. 94.13% of the stock is currently owned by institutional investors and hedge funds.
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.