Epam Systems Inc. (EPAM) Upgraded at Zacks Investment Research
Epam Systems Inc. (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $72.00 target price on the stock. Zacks Investment Research’s target price points to a potential upside of 11.51% from the stock’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. “
A number of other research firms have also recently commented on EPAM. Cantor Fitzgerald reiterated a “buy” rating and issued a $75.00 price objective on shares of Epam Systems in a report on Monday, September 12th. Wedbush began coverage on Epam Systems in a research report on Thursday, September 8th. They issued an “outperform” rating and a $82.00 target price on the stock. Pacific Crest reissued a “buy” rating and issued a $77.00 target price on shares of Epam Systems in a research report on Friday, August 5th. Citigroup Inc. reissued a “buy” rating on shares of Epam Systems in a research report on Saturday, July 9th. Finally, Barclays PLC cut their target price on 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. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Epam Systems presently has a consensus rating of “Buy” and a consensus target price of $82.18.
Epam Systems (NYSE:EPAM) traded down 3.31% during mid-day trading on Tuesday, hitting $64.57. The stock had a trading volume of 262,027 shares. The stock has a market cap of $3.29 billion, a P/E ratio of 34.40 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 firm has a 50-day moving average of $68.12 and a 200-day moving average of $70.41.
Epam Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.64 earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. On average, analysts forecast that Epam Systems will post $2.99 EPS for the current fiscal year.
In related news, insider Anthony J. Conte sold 1,200 shares of the business’s stock in a transaction 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 transaction, the insider now owns 12,706 shares in the company, valued at $844,949. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.98% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EPAM. Wellington Management Group LLP increased its position in Epam Systems by 33.2% in the first quarter. Wellington Management Group LLP now owns 1,084,823 shares of the company’s stock valued at $81,004,000 after buying an additional 270,389 shares in the last quarter. State Street Corp increased its position in Epam Systems by 2.9% in the first quarter. State Street Corp now owns 864,567 shares of the company’s stock valued at $64,560,000 after buying an additional 24,531 shares in the last quarter. Lazard Asset Management LLC increased its position in Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock valued at $159,000 after buying an additional 2,081 shares in the last quarter. BlackRock Inc. increased its position in Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock valued at $241,000 after buying an additional 1,828 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Epam Systems by 22.3% in the first quarter. Goldman Sachs Group Inc. now owns 125,072 shares of the company’s stock valued at $9,339,000 after buying an additional 22,825 shares in the last quarter. Institutional investors own 94.13% of the company’s stock.
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.
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