EPAM Systems (NYSE:EPAM) Earns Buy Rating from Needham & Company LLC

EPAM Systems (NYSE:EPAM)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $265.00 price objective on the information technology services provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 26.81% from the company’s current price.

A number of other equities analysts also recently commented on EPAM. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $250.00 to $290.00 in a report on Tuesday, December 17th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Mizuho increased their price objective on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $269.83.

EPAM Systems Price Performance

NYSE EPAM opened at $208.98 on Thursday. The company has a 50 day simple moving average of $243.56 and a 200-day simple moving average of $222.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 3.88 and a beta of 1.51. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. Equities research analysts predict that EPAM Systems will post 8.59 earnings per share for the current fiscal year.

Insider Transactions at EPAM Systems

In other news, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the sale, the chief financial officer now owns 24,372 shares in the company, valued at approximately $6,263,604. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,300 shares of company stock worth $2,129,924. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EPAM. Creative Planning lifted its position in EPAM Systems by 100.8% in the third quarter. Creative Planning now owns 7,178 shares of the information technology services provider’s stock worth $1,429,000 after purchasing an additional 3,604 shares during the period. Raymond James & Associates lifted its position in EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after purchasing an additional 34,701 shares during the period. Allspring Global Investments Holdings LLC lifted its position in EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after purchasing an additional 13,690 shares during the period. International Assets Investment Management LLC bought a new position in shares of EPAM Systems during the third quarter valued at $21,787,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of EPAM Systems by 5.6% during the third quarter. Taylor Frigon Capital Management LLC now owns 13,030 shares of the information technology services provider’s stock valued at $2,595,000 after acquiring an additional 691 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Company Profile

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.