EPAM Systems (NYSE:EPAM) Stock Price Target Raised at Citigroup

EPAM Systems (NYSE:EPAM) had its target price lifted by Citigroup from $140.00 to $172.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup‘s price objective would indicate a potential upside of 5.06% from the stock’s previous close.

EPAM has been the subject of a number of other research reports. Morgan Stanley boosted their price target on EPAM Systems from $97.00 to $140.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. Wells Fargo & Company increased their target price on shares of EPAM Systems from $156.00 to $176.00 and gave the stock an “overweight” rating in a report on Friday, November 6th. Weiss Ratings upgraded shares of EPAM Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Mizuho set a $130.00 price target on shares of EPAM Systems in a report on Monday, August 10th. Finally, Stifel Nicolaus set a $135.00 price objective on shares of EPAM Systems in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $145.87.

EPAM Systems Price Performance

EPAM Systems stock traded down $0.43 during trading hours on Wednesday, reaching $163.71. 608,009 shares of the stock were exchanged, compared to its average volume of 1,482,011. The company has a market cap of $8.35 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.01. EPAM Systems has a twelve month low of $73.06 and a twelve month high of $222.53. The stock has a 50 day moving average of $123.61 and a two-hundred day moving average of $120.84.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, November 5th. The information technology services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.41 by $0.10. EPAM Systems had a net margin of 7.53% and a return on equity of 16.76%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company earned $3.08 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts expect that EPAM Systems will post 10.49 EPS for the current fiscal year.

Institutional Trading of EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in EPAM Systems in the 2nd quarter valued at approximately $526,684,000. Dimensional Fund Advisors LP boosted its position in EPAM Systems by 25.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,069,284 shares of the information technology services provider’s stock worth $144,789,000 after buying an additional 219,388 shares during the period. Bank of America Corp DE boosted its position in EPAM Systems by 15.9% during the 1st quarter. Bank of America Corp DE now owns 624,699 shares of the information technology services provider’s stock worth $84,584,000 after buying an additional 85,480 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in EPAM Systems by 7.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 348,586 shares of the information technology services provider’s stock worth $47,199,000 after acquiring an additional 25,152 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in EPAM Systems by 26.6% during the 1st quarter. Bessemer Group Inc. now owns 305,052 shares of the information technology services provider’s stock worth $41,305,000 after acquiring an additional 64,078 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

About EPAM Systems

EPAM Systems is a global provider of software engineering, digital transformation and consulting services. The company helps businesses design, build and maintain software products and digital platforms, and offers services in areas such as cloud computing, data and artificial intelligence, and cybersecurity. Founded in 1993 by Arkadiy Dobkin, EPAM has grown from a software development firm into a technology services company serving clients across the Americas, Europe and Asia-Pacific. It works with organizations in industries including financial services, healthcare, retail and technology.