Zacks Investment Research upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $184.00 price target on the information technology services provider’s stock.

According to Zacks, “EPAM Systems delivered strong first-quarter results, which gained traction from growth across all its industry verticals and majority of its locations. Digital transformation, focus on customer engagement and product development are key drivers. Moreover, deeper insights into artificial intelligence, machine learning and analytics are an upside. Acquisitions have been a key catalyst, which enabled the company to penetrate new markets plus diversify and broaden its product portfolio. EPAM’s healthy operating cash flow generation capability has helped it invest in growth initiatives. Shares of the company have outperformed its industry in the past year. Nonetheless, soft spending by the European banking clients and sluggish demand in the consumer and retail space, primarily in Europe, are nagging woes. Revenue recognition from various financial services clients in Russia is also a dampener.”

Several other analysts also recently commented on EPAM. Wedbush reaffirmed an outperform rating and set a $180.00 target price (up previously from $158.00) on shares of EPAM Systems in a report on Wednesday, May 8th. KeyCorp lifted their target price on shares of EPAM Systems from $144.00 to $164.00 and gave the stock an overweight rating in a report on Monday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of EPAM Systems to $167.00 and gave the stock an overweight rating in a report on Friday, February 15th. SunTrust Banks lifted their target price on shares of EPAM Systems to $165.00 and gave the stock a buy rating in a report on Monday, February 11th. Finally, VTB Capital downgraded shares of EPAM Systems from a hold rating to a sell rating in a report on Friday, February 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $158.50.

Shares of EPAM traded up $1.52 during midday trading on Wednesday, reaching $172.56. The stock had a trading volume of 8,816 shares, compared to its average volume of 339,150. EPAM Systems has a one year low of $104.77 and a one year high of $180.55. The company has a market cap of $9.35 billion, a PE ratio of 44.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.41 and a quick ratio of 4.41.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, May 9th. The information technology services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $521.30 million during the quarter, compared to the consensus estimate of $519.11 million. EPAM Systems had a net margin of 12.19% and a return on equity of 19.56%. EPAM Systems’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Analysts expect that EPAM Systems will post 4.26 earnings per share for the current year.

In other EPAM Systems news, Director Ronald P. Vargo sold 2,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $159.64, for a total value of $319,280.00. Following the completion of the sale, the director now owns 10,276 shares of the company’s stock, valued at approximately $1,640,460.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Boris Shnayder sold 15,000 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $159.90, for a total transaction of $2,398,500.00. Following the completion of the sale, the senior vice president now directly owns 37,508 shares of the company’s stock, valued at approximately $5,997,529.20. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in shares of EPAM Systems by 1.9% in the 4th quarter. State of Alaska Department of Revenue now owns 6,331 shares of the information technology services provider’s stock valued at $734,000 after buying an additional 117 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of EPAM Systems in the 4th quarter valued at approximately $336,000. Utah Retirement Systems raised its position in shares of EPAM Systems by 1.1% in the 4th quarter. Utah Retirement Systems now owns 9,500 shares of the information technology services provider’s stock valued at $1,102,000 after buying an additional 100 shares in the last quarter. Sciencast Management LP acquired a new position in shares of EPAM Systems in the 1st quarter valued at approximately $496,000. Finally, Strs Ohio raised its position in shares of EPAM Systems by 37.7% in the 4th quarter. Strs Ohio now owns 125,437 shares of the information technology services provider’s stock valued at $14,551,000 after buying an additional 34,334 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Armenia, Belarus, Kazakhstan, Russia, Ukraine, Asia, and Australia. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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