EPAM Systems (NYSE:EPAM) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of EPAM Systems (NYSE:EPAM) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $340.00 price objective on the information technology services provider’s stock.

A number of other equities analysts also recently issued reports on EPAM. Citigroup lifted their price target on EPAM Systems from $312.00 to $325.00 and gave the company a neutral rating in a research note on Friday, February 16th. Guggenheim began coverage on EPAM Systems in a report on Tuesday, March 19th. They set a buy rating and a $350.00 price target for the company. Mizuho raised their price objective on EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a research note on Friday, February 16th. Barclays upped their target price on shares of EPAM Systems from $305.00 to $315.00 and gave the stock an equal weight rating in a research note on Tuesday, February 20th. Finally, Susquehanna raised their price target on shares of EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $331.33.

EPAM Systems Trading Down 2.8 %

Shares of EPAM Systems stock opened at $259.16 on Wednesday. The stock has a market capitalization of $14.99 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 11.62 and a beta of 1.43. EPAM Systems has a 52 week low of $197.99 and a 52 week high of $317.50. The stock has a 50 day moving average price of $289.53 and a two-hundred day moving average price of $273.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. EPAM Systems’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 EPS. As a group, equities analysts anticipate that EPAM Systems will post 7.72 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last 90 days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently modified their holdings of EPAM. Norges Bank purchased a new position in EPAM Systems during the fourth quarter valued at approximately $184,713,000. Price T Rowe Associates Inc. MD boosted its holdings in EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares during the period. International Assets Investment Management LLC purchased a new position in shares of EPAM Systems during the 4th quarter valued at $663,080,000. State Street Corp increased its holdings in shares of EPAM Systems by 9.1% in the first quarter. State Street Corp now owns 2,471,924 shares of the information technology services provider’s stock worth $733,197,000 after purchasing an additional 206,636 shares during the period. Finally, TD Asset Management Inc raised its position in shares of EPAM Systems by 317.4% in the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock worth $78,276,000 after buying an additional 200,181 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. 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, performance tuning, deployment, maintenance, and support services.