Epam Systems Inc. (EPAM) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Epam Systems Inc. (NYSE:EPAM) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $72.00 price target 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. “
A number of other brokerages also recently issued reports on EPAM. Cantor Fitzgerald reiterated a buy rating and issued a $75.00 price target on shares of Epam Systems in a report on Monday, September 12th. Wedbush started coverage on shares of Epam Systems in a report on Thursday, September 8th. They issued an outperform rating and a $82.00 price target for the company. Pacific Crest reiterated a buy rating and issued a $77.00 price target on shares of Epam Systems in a report on Friday, August 5th. Citigroup Inc. reiterated a buy rating on shares of Epam Systems in a report on Saturday, July 9th. Finally, Barclays PLC cut their price target on shares of Epam Systems from $85.00 to $75.00 and set an equal weight rating for the company in a report on Thursday, July 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $82.18.
Shares of Epam Systems (NYSE:EPAM) traded down 0.396% during trading on Tuesday, reaching $64.314. 7,713 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $68.08 and a 200-day moving average price of $70.37. Epam Systems has a 52 week low of $54.88 and a 52 week high of $84.41. The stock has a market capitalization of $3.27 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.02. The company earned $283.80 million during the quarter, compared to analysts’ expectations of $281.11 million. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. Analysts predict that Epam Systems will post $2.99 earnings per share for the current year.
In other news, insider Anthony J. Conte sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $66.50, for a total transaction of $79,800.00. Following the completion of the sale, the insider now owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.98% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Epam Systems by 112.5% in the third quarter. BNP Paribas Arbitrage SA now owns 4,051 shares of the company’s stock worth $281,000 after buying an additional 2,145 shares during the last quarter. Royal Bank of Canada increased its stake in Epam Systems by 169.1% in the second quarter. Royal Bank of Canada now owns 13,826 shares of the company’s stock worth $890,000 after buying an additional 8,688 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Epam Systems during the second quarter worth $6,706,000. Stifel Financial Corp increased its stake in Epam Systems by 5.8% in the second quarter. Stifel Financial Corp now owns 3,400 shares of the company’s stock worth $220,000 after buying an additional 186 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its stake in Epam Systems by 3.8% in the second quarter. Grandeur Peak Global Advisors LLC now owns 163,150 shares of the company’s stock worth $10,492,000 after buying an additional 5,950 shares during the last quarter. 94.13% of the stock is owned by institutional investors and hedge funds.
Epam Systems Company Profile
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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