EPAM Systems, Inc. (NYSE:EPAM) Raised to “Buy” at BidaskClub
BidaskClub upgraded shares of EPAM Systems, Inc. (NYSE:EPAM) from a hold rating to a buy rating in a research note released on Tuesday, October 3rd.
EPAM has been the topic of several other research reports. Berenberg Bank set a $95.00 price target on EPAM Systems and gave the company a buy rating in a report on Sunday, August 6th. UBS AG increased their price target on EPAM Systems from $89.00 to $96.00 and gave the company a buy rating in a report on Friday, August 4th. KeyCorp raised their price objective on shares of EPAM Systems from $90.00 to $94.00 and gave the stock an overweight rating in a research note on Wednesday, September 13th. Jefferies Group LLC set a $95.00 price objective on shares of EPAM Systems and gave the stock a buy rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research downgraded shares of EPAM Systems from a buy rating to a hold rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. EPAM Systems presently has an average rating of Buy and an average price target of $93.14.
EPAM Systems (NYSE EPAM) traded up 0.40% during midday trading on Tuesday, reaching $90.96. 189,579 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $85.25 and its 200-day moving average price is $82.27. The company has a market capitalization of $4.78 billion, a PE ratio of 43.92 and a beta of 0.99. EPAM Systems has a 1-year low of $54.53 and a 1-year high of $91.23.
EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The business had revenue of $348.98 million during the quarter, compared to analyst estimates of $342.00 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities analysts expect that EPAM Systems will post $3.30 EPS for the current year.
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In related news, SVP Elaina Shekhter sold 500 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 5,000 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $78.86, for a total value of $394,300.00. Following the completion of the sale, the chief executive officer now owns 2,105,851 shares in the company, valued at approximately $166,067,409.86. The disclosure for this sale can be found here. Insiders sold a total of 243,000 shares of company stock worth $20,262,045 in the last 90 days. Company insiders own 6.17% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. grew its holdings in shares of EPAM Systems by 7.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 543,649 shares of the information technology services provider’s stock worth $45,715,000 after purchasing an additional 38,195 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in shares of EPAM Systems by 2.0% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 362,125 shares of the information technology services provider’s stock worth $30,451,000 after purchasing an additional 6,975 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in EPAM Systems by 3.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,317 shares of the information technology services provider’s stock valued at $363,000 after buying an additional 153 shares in the last quarter. Bank of Nova Scotia acquired a new stake in EPAM Systems in the second quarter valued at about $2,565,000. Finally, CS Mckee LP boosted its stake in EPAM Systems by 0.6% in the second quarter. CS Mckee LP now owns 17,850 shares of the information technology services provider’s stock valued at $1,501,000 after buying an additional 100 shares in the last quarter. 87.88% of the stock is currently owned by 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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