EPAM Systems, Inc. (EPAM) Research Coverage Started at Bank of America Corporation
Stock analysts at Bank of America Corporation assumed coverage on shares of EPAM Systems, Inc. (NYSE:EPAM) in a research note issued on Tuesday. The firm set a “buy” rating on the information technology services provider’s stock.
Other analysts have also recently issued reports about the stock. UBS AG lifted their target price on shares of EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Berenberg Bank set a $95.00 target price on shares of EPAM Systems and gave the stock a “buy” rating in a research note on Sunday, August 6th. Jefferies Group LLC set a $95.00 target price on shares of EPAM Systems and gave the stock a “buy” rating in a research note on Thursday, August 17th. Cowen and Company reiterated a “buy” rating and issued a $95.00 target price on shares of EPAM Systems in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of EPAM Systems from a “sell” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. EPAM Systems has a consensus rating of “Buy” and an average price target of $91.00.
EPAM Systems (EPAM) opened at 84.68 on Tuesday. The stock’s 50 day moving average is $82.52 and its 200 day moving average is $80.04. EPAM Systems has a 12-month low of $54.53 and a 12-month high of $87.93. The stock has a market capitalization of $4.45 billion, a PE ratio of 40.89 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $348.98 million during the quarter, compared to analysts’ expectations of $342 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. EPAM Systems’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Equities analysts anticipate that EPAM Systems will post $3.30 EPS for the current fiscal year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $82.15, for a total transaction of $2,464,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,075,851 shares of the company’s stock, valued at approximately $170,531,159.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 115,100 shares of company stock valued at $9,297,549 over the last three months. 6.17% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of EPAM Systems by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock valued at $69,186,000 after purchasing an additional 211,513 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of EPAM Systems during the 1st quarter valued at approximately $4,154,000. Swiss National Bank increased its holdings in shares of EPAM Systems by 0.9% during the 1st quarter. Swiss National Bank now owns 75,962 shares of the information technology services provider’s stock valued at $5,737,000 after purchasing an additional 700 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EPAM Systems by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 215,088 shares of the information technology services provider’s stock valued at $16,244,000 after purchasing an additional 7,042 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $206,000. 87.90% of the stock is owned by hedge funds and other institutional investors.
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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