Zacks Investment Research upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report published on Tuesday morning. They currently have $162.00 price target on the information technology services provider’s stock.
According to Zacks, “EPAM Systems is benefiting from growth across geographies and all industry verticals. Digital transformation, focus on customer engagement and product development are key growth drivers. EPAM has been steadily gaining traction in its IT services business. Acquisitions have been a key driving factor which has enabled it entering new markets, diversify and broaden product portfolio. EPAM’s healthy operating cash flow generation capability has helped it invest in growth initiatives. Shares have outperformed the industry in the past year. Estimates have been stable ahead of the company's Q4 earnings release. The company has positive record of earnings surprises in recent quarters. Nonetheless, as majority of EPAM’s delivery centers are located in Central and Eastern Europe, the company’s prospects are currently prone to a massive geopolitical risk due to the ongoing conflict between Russia and Ukraine.”
EPAM has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on EPAM Systems from $152.00 to $157.00 and gave the stock an overweight rating in a report on Friday, November 2nd. KeyCorp cut their price target on EPAM Systems from $146.00 to $144.00 and set an overweight rating for the company in a report on Friday, November 2nd. Jefferies Financial Group initiated coverage on EPAM Systems in a report on Tuesday, November 20th. They issued a hold rating and a $134.00 price target for the company. Finally, Cantor Fitzgerald boosted their price target on EPAM Systems from $139.00 to $146.00 and gave the stock an overweight rating in a report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $143.73.
Shares of NYSE EPAM traded down $1.12 during trading on Tuesday, reaching $144.13. The company had a trading volume of 3,461 shares, compared to its average volume of 268,298. EPAM Systems has a twelve month low of $102.03 and a twelve month high of $146.43. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 50.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.58. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.02.
A number of institutional investors have recently added to or reduced their stakes in EPAM. OppenheimerFunds Inc. acquired a new position in EPAM Systems in the third quarter valued at $195,951,000. Capital World Investors increased its stake in EPAM Systems by 78.8% in the third quarter. Capital World Investors now owns 2,070,917 shares of the information technology services provider’s stock valued at $285,165,000 after purchasing an additional 912,555 shares during the last quarter. Morgan Stanley increased its stake in EPAM Systems by 7.2% in the third quarter. Morgan Stanley now owns 5,793,689 shares of the information technology services provider’s stock valued at $797,790,000 after purchasing an additional 388,438 shares during the last quarter. Franklin Resources Inc. increased its stake in EPAM Systems by 877.1% in the third quarter. Franklin Resources Inc. now owns 366,400 shares of the information technology services provider’s stock valued at $50,453,000 after purchasing an additional 328,900 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in EPAM Systems by 588.6% in the third quarter. First Trust Advisors LP now owns 283,329 shares of the information technology services provider’s stock valued at $39,014,000 after purchasing an additional 242,184 shares during the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.
About EPAM Systems
EPAM Systems, Inc provides software product development and digital platform engineering services primarily in North America, Europe, Asia, and Australia. It offers software product development services, including product research, customer experience design, prototyping, program management, component design and integration, lifecycle software testing, product deployment, end-user customization, performance tuning, product support and maintenance, managed services, and porting and cross-platform migration.
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