EPAM Systems (NYSE:EPAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm currently has a $184.00 price objective on the information technology services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential downside of 0.51% from the company’s current price.
According to Zacks, “EPAM Systems is benefiting from growth across all industry verticals and geographies. Digital transformation, focus on customer engagement and product development are key catalysts. Moreover, deeper insights into AI, machine learning and analytics are an upside. Furthermore, acquisitions are the key growth driver, which helped it enter new markets, diversify and broaden the product portfolio. Strong performance of its Financial Services segment, driven by rising demand within FinTech, payments, and insurance, is also a key driver. Shares of the company have outperformed the industry in the past year. However, slowdown in European banking demand is a dampener. Also, global economic and business uncertainties caused by the coronavirus outbreak might dampen its near-term financial results.”
Several other research firms also recently weighed in on EPAM. Needham & Company LLC dropped their price objective on EPAM Systems from $285.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Cantor Fitzgerald lifted their target price on EPAM Systems from $219.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. They noted that the move was a valuation call. Citigroup lifted their target price on EPAM Systems from $263.00 to $274.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lifted their target price on EPAM Systems from $254.00 to $272.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Wolfe Research lowered EPAM Systems from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $241.00.
NYSE EPAM traded up $9.89 during trading on Thursday, hitting $184.94. The company’s stock had a trading volume of 30,338 shares, compared to its average volume of 576,716. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.81 and a quick ratio of 3.81. The company has a market cap of $9.67 billion, a PE ratio of 40.83, a P/E/G ratio of 1.83 and a beta of 1.28. The business’s 50 day simple moving average is $213.63 and its 200-day simple moving average is $205.01. EPAM Systems has a fifty-two week low of $151.97 and a fifty-two week high of $248.27.
EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.27. EPAM Systems had a return on equity of 18.63% and a net margin of 11.38%. The firm had revenue of $632.80 million for the quarter, compared to analyst estimates of $618.11 million. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. Analysts expect that EPAM Systems will post 5.35 EPS for the current fiscal year.
In other news, CFO Jason D. Peterson sold 2,210 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $225.00, for a total transaction of $497,250.00. Following the transaction, the chief financial officer now directly owns 12,051 shares in the company, valued at approximately $2,711,475. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in EPAM Systems in the fourth quarter worth about $26,000. Howard Wealth Management LLC acquired a new position in EPAM Systems in the fourth quarter worth about $27,000. Savior LLC acquired a new position in EPAM Systems in the fourth quarter worth about $34,000. Procyon Private Wealth Partners LLC acquired a new position in EPAM Systems in the fourth quarter worth about $36,000. Finally, NWK Group Inc. acquired a new position in EPAM Systems in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 90.80% 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, 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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