EPAM Systems, Inc. (NYSE:EPAM) Receives $571.00 Consensus Price Target from Brokerages

Shares of EPAM Systems, Inc. (NYSE:EPAM) have received a consensus recommendation of “Buy” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $571.00.

EPAM has been the topic of several analyst reports. Piper Sandler upped their target price on shares of EPAM Systems from $517.00 to $689.00 and gave the stock an “overweight” rating in a report on Friday, August 6th. William Blair reaffirmed a “buy” rating on shares of EPAM Systems in a report on Tuesday, August 3rd. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating and set a $607.00 target price on the stock. in a report on Wednesday, October 6th. Jefferies Financial Group raised shares of EPAM Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $455.00 to $670.00 in a report on Tuesday, August 3rd. Finally, Barclays upped their target price on shares of EPAM Systems from $521.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, August 9th.

Shares of EPAM Systems stock traded up $14.31 on Monday, reaching $610.88. The stock had a trading volume of 1,077 shares, compared to its average volume of 298,664. The business’s 50-day moving average price is $610.64 and its two-hundred day moving average price is $528.78. EPAM Systems has a fifty-two week low of $305.83 and a fifty-two week high of $648.72. The stock has a market cap of $34.59 billion, a P/E ratio of 87.86, a price-to-earnings-growth ratio of 3.32 and a beta of 1.36.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 5th. The information technology services provider reported $2.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.11. EPAM Systems had a net margin of 13.12% and a return on equity of 18.89%. The business had revenue of $881.40 million during the quarter, compared to analysts’ expectations of $861.36 million. During the same period in the previous year, the company earned $1.46 earnings per share. EPAM Systems’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, sell-side analysts forecast that EPAM Systems will post 7.13 earnings per share for the current year.

In related news, SVP Boris Shnayder sold 1,250 shares of the stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $622.74, for a total transaction of $778,425.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 643 shares of the stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $608.00, for a total value of $390,944.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,937 shares of company stock valued at $3,610,997. 4.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vestmark Advisory Solutions Inc. grew its stake in shares of EPAM Systems by 3.1% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 601 shares of the information technology services provider’s stock worth $307,000 after acquiring an additional 18 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of EPAM Systems by 10.6% during the 1st quarter. Quadrant Capital Group LLC now owns 250 shares of the information technology services provider’s stock worth $99,000 after acquiring an additional 24 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of EPAM Systems by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 7,212 shares of the information technology services provider’s stock worth $4,114,000 after acquiring an additional 24 shares in the last quarter. Utah Retirement Systems grew its stake in shares of EPAM Systems by 0.3% during the 2nd quarter. Utah Retirement Systems now owns 10,202 shares of the information technology services provider’s stock worth $5,213,000 after acquiring an additional 26 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of EPAM Systems by 1.5% in the 2nd quarter. Fulton Bank N.A. now owns 1,847 shares of the information technology services provider’s stock valued at $944,000 after buying an additional 27 shares during the last quarter. 91.55% of the stock is owned by institutional investors.

EPAM Systems Company Profile

EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.

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Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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