EPAM Systems (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $124.00 price objective on the information technology services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.08% 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. “

EPAM has been the topic of a number of other research reports. Bank of America initiated coverage on EPAM Systems in a research note on Tuesday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Citigroup boosted their price target on EPAM Systems from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $110.00 price target (up previously from $90.00) on shares of EPAM Systems in a research note on Friday, November 3rd. UBS Group restated a “buy” rating and set a $105.00 price target (up previously from $96.00) on shares of EPAM Systems in a research note on Friday, November 3rd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $92.00 price target on shares of EPAM Systems in a research note on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $102.87.

EPAM Systems (NYSE EPAM) traded down $1.44 on Wednesday, reaching $109.66. The company’s stock had a trading volume of 208,128 shares, compared to its average volume of 311,813. EPAM Systems has a 52 week low of $63.32 and a 52 week high of $111.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a market capitalization of $5,760.00, a price-to-earnings ratio of 46.47, a PEG ratio of 1.69 and a beta of 0.98.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The company had revenue of $377.50 million for the quarter, compared to analyst estimates of $368.22 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. research analysts predict that EPAM Systems will post 2.68 earnings per share for the current fiscal year.

In related news, CEO Arkadiy Dobkin sold 15,000 shares of EPAM Systems stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $91.09, for a total transaction of $1,366,350.00. Following the completion of the sale, the chief executive officer now owns 2,010,851 shares of the company’s stock, valued at $183,168,417.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald P. Vargo sold 4,000 shares of EPAM Systems stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total value of $405,280.00. The disclosure for this sale can be found here. Insiders have sold 229,154 shares of company stock worth $22,580,185 in the last 90 days. Insiders own 6.17% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EPAM. Schwab Charles Investment Management Inc. lifted its holdings in shares of EPAM Systems by 12.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 235,579 shares of the information technology services provider’s stock worth $19,810,000 after purchasing an additional 25,631 shares during the period. SG Americas Securities LLC acquired a new stake in shares of EPAM Systems during the second quarter worth about $353,000. Legal & General Group Plc lifted its holdings in shares of EPAM Systems by 4.6% during the second quarter. Legal & General Group Plc now owns 17,859 shares of the information technology services provider’s stock worth $1,498,000 after purchasing an additional 789 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of EPAM Systems by 514.2% during the second quarter. BNP Paribas Arbitrage SA now owns 6,216 shares of the information technology services provider’s stock worth $523,000 after purchasing an additional 5,204 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of EPAM Systems during the second quarter worth about $563,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

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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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