EPAM Systems’ (EPAM) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of EPAM Systems (NYSE:EPAM) in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $265.00 price objective on the information technology services provider’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler raised their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley raised their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Susquehanna increased their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group decreased their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.83.

EPAM Systems Trading Down 12.8 %

Shares of EPAM opened at $225.11 on Thursday. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 3.92 and a beta of 1.51. The firm has a 50 day moving average price of $244.27 and a 200-day moving average price of $222.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. As a group, equities research analysts forecast that EPAM Systems will post 8.59 earnings per share for the current year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the sale, the senior vice president now owns 13,000 shares in the company, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EPAM. Geneva Capital Management LLC grew its holdings in EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after purchasing an additional 4,027 shares during the period. Centre Asset Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter worth approximately $8,757,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of EPAM Systems in the 3rd quarter worth approximately $8,195,000. Oliver Luxxe Assets LLC bought a new position in EPAM Systems during the 4th quarter valued at approximately $1,889,000. Finally, Victory Capital Management Inc. raised its stake in EPAM Systems by 247.6% during the third quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after buying an additional 51,603 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other 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.