EPAM Systems (NYSE:EPAM – Get Rating) had its target price reduced by research analysts at JPMorgan Chase & Co. from $550.00 to $420.00 in a note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 27.21% from the stock’s current price.
A number of other research firms have also weighed in on EPAM. Barclays upped their price objective on EPAM Systems from $410.00 to $485.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. Cowen lifted their price objective on EPAM Systems from $400.00 to $440.00 in a research note on Friday, August 5th. Piper Sandler upped their target price on shares of EPAM Systems from $381.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Needham & Company LLC lifted their price target on shares of EPAM Systems from $450.00 to $490.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, StockNews.com assumed coverage on shares of EPAM Systems in a report on Wednesday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $470.00.
EPAM Systems Price Performance
EPAM stock opened at $330.17 on Friday. The business’s fifty day moving average price is $402.77 and its 200 day moving average price is $342.71. EPAM Systems has a 12-month low of $168.59 and a 12-month high of $725.40. The company has a market capitalization of $18.94 billion, a PE ratio of 53.34, a P/E/G ratio of 1.88 and a beta of 1.68. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.01.
EPAM Systems (NYSE:EPAM – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The information technology services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.35 by $0.86. EPAM Systems had a net margin of 8.21% and a return on equity of 21.72%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 35.5% compared to the same quarter last year. On average, sell-side analysts anticipate that EPAM Systems will post 8.59 EPS for the current year.
In related news, EVP Balazs Fejes sold 47,811 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $423.30, for a total value of $20,238,396.30. Following the completion of the sale, the executive vice president now owns 12,972 shares in the company, valued at approximately $5,491,047.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Gary C. Abrahams sold 557 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $452.64, for a total value of $252,120.48. Following the transaction, the vice president now owns 1,495 shares of the company’s stock, valued at $676,696.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Balazs Fejes sold 47,811 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $423.30, for a total value of $20,238,396.30. Following the sale, the executive vice president now directly owns 12,972 shares of the company’s stock, valued at $5,491,047.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,527 shares of company stock valued at $28,901,058. 4.10% of the stock is currently owned by company insiders.
Institutional Trading of EPAM Systems
Several hedge funds and other institutional investors have recently made changes to their positions in the company. SkyView Investment Advisors LLC purchased a new stake in EPAM Systems in the 4th quarter valued at approximately $341,000. BlackRock Inc. grew its holdings in EPAM Systems by 31.1% during the fourth quarter. BlackRock Inc. now owns 4,644,619 shares of the information technology services provider’s stock worth $3,104,696,000 after acquiring an additional 1,102,837 shares during the period. JustInvest LLC raised its position in EPAM Systems by 23.7% in the fourth quarter. JustInvest LLC now owns 2,287 shares of the information technology services provider’s stock worth $1,529,000 after acquiring an additional 438 shares in the last quarter. Quent Capital LLC acquired a new stake in EPAM Systems in the fourth quarter valued at $251,000. Finally, Norges Bank purchased a new stake in shares of EPAM Systems during the 4th quarter worth $333,066,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.
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, 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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