EPAM Systems, Inc. (NYSE:EPAM) Receives $267.33 Consensus Price Target from Analysts

EPAM Systems, Inc. (NYSE:EPAM) has been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $262.47.

EPAM has been the subject of several research reports. Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $295.00 in a report on Friday, December 6th. Barclays dropped their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Scotiabank dropped their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th.

EPAM Systems Stock Down 1.8 %

Shares of EPAM opened at $182.86 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems has a one year low of $169.43 and a one year high of $296.20. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.38 and a beta of 1.61. The stock has a 50 day moving average price of $229.28 and a 200 day moving average price of $222.26.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Equities research analysts forecast that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Hedge funds have recently bought and sold shares of the company. Centre Asset Management LLC acquired a new position in EPAM Systems during the 4th quarter worth about $8,757,000. Oppenheimer Asset Management Inc. acquired a new position in EPAM Systems during the 3rd quarter worth about $8,195,000. Oliver Luxxe Assets LLC acquired a new position in EPAM Systems during the 4th quarter worth about $1,889,000. Victory Capital Management Inc. raised its position in EPAM Systems by 247.6% in the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock valued at $14,419,000 after purchasing an additional 51,603 shares in the last quarter. Finally, MAI Capital Management raised its position in EPAM Systems by 10.3% in the 3rd quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider’s stock valued at $7,986,000 after purchasing an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 91.58% 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, performance tuning, deployment, maintenance, and support services.