EPAM Systems (NYSE:EPAM) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of EPAM Systems (NYSE:EPAM) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $265.00 price objective on the information technology services provider’s stock.

EPAM has been the subject of a number of other research reports. Morgan Stanley boosted their target price on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Piper Sandler boosted their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Barclays raised shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $269.83.

EPAM Systems Trading Down 12.8 %

NYSE:EPAM opened at $225.11 on Thursday. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The stock 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 company’s 50 day moving average price is $244.27 and its 200-day moving average price is $222.18. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its 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 net margin of 9.68% and a return on equity of 14.92%. On average, equities research analysts forecast that EPAM Systems will post 8.59 earnings per share for the current fiscal year.

Insider Activity 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 transaction of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the company’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 transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at $6,263,604. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently bought and sold shares of EPAM. Capital World Investors grew its position in shares of EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after purchasing an additional 620,551 shares during the period. Geode Capital Management LLC grew its holdings in EPAM Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock valued at $314,616,000 after buying an additional 37,119 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after buying an additional 401,355 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of EPAM Systems by 126.4% during the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after buying an additional 429,644 shares during the last quarter. 91.58% of the stock is owned by 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.