EPAM Systems (NYSE:EPAM) Rating Increased to Buy at Wall Street Zen

Key Points

• EPAM Systems was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased confidence in the stock's performance.
• Analyst price targets for EPAM Systems varied, with Stifel Nicolaus lowering theirs to $240 and Needham & Company LLC raising theirs to $215, reflecting differing market perspectives.
• EPAM Systems reported a 12-month revenue increase of 11.7% year-over-year, with quarterly earnings per share coming in at $2.41, exceeding expectations.

EPAM Systems (NYSE:EPAM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities analysts also recently weighed in on EPAM. Stifel Nicolaus cut their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Barclays boosted their price objective on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Guggenheim upped their price objective on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Scotiabank lowered their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, Needham & Company LLC boosted their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and a consensus price target of $231.73.

EPAM Systems Trading Down 4.3%

NYSE EPAM opened at $150.93 on Friday. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $172.04 and a 200 day simple moving average of $187.30. EPAM Systems has a 12 month low of $138.15 and a 12 month high of $269.00. The firm has a market capitalization of $8.55 billion, a P/E ratio of 21.11, a PEG ratio of 2.35 and a beta of 1.67.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that EPAM Systems will post 8.9 EPS for the current fiscal year.

Institutional Trading of EPAM Systems

A number of institutional investors have recently modified their holdings of EPAM. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after acquiring an additional 125 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of EPAM Systems during the 2nd quarter valued at $29,000. Sentry Investment Management LLC purchased a new stake in EPAM Systems during the 1st quarter worth about $33,000. CX Institutional bought a new position in EPAM Systems in the 1st quarter worth about $42,000. Finally, Blue Trust Inc. grew its holdings in EPAM Systems by 40.5% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the information technology services provider's stock valued at $59,000 after buying an additional 96 shares in the last quarter. 91.58% of the stock is currently 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.

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