EPAM Systems (NYSE:EPAM) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of EPAM Systems (NYSE:EPAM - Free Report) in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has a $340.00 price target on the information technology services provider's stock.

EPAM has been the subject of a number of other research reports. Wolfe Research raised EPAM Systems from a peer perform rating to an outperform rating and set a $355.00 target price for the company in a report on Thursday, January 4th. Mizuho lifted their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the stock a buy rating in a research note on Friday, February 16th. Scotiabank raised shares of EPAM Systems from a sector perform rating to a sector outperform rating and upped their target price for the stock from $265.00 to $350.00 in a report on Friday, February 16th. Needham & Company LLC raised their price target on shares of EPAM Systems from $295.00 to $350.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, Piper Sandler reaffirmed an overweight rating and set a $369.00 price objective on shares of EPAM Systems in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $331.33.

EPAM Systems Stock Performance

Shares of EPAM traded down $7.46 during trading hours on Wednesday, reaching $266.71. 379,168 shares of the company traded hands, compared to its average volume of 502,381. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $290.77 and a 200-day moving average price of $273.71. The stock has a market capitalization of $15.42 billion, a P/E ratio of 37.78, a P/E/G ratio of 11.77 and a beta of 1.43. EPAM Systems has a 12-month low of $197.99 and a 12-month high of $317.50.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. The business had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. Equities analysts anticipate that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Activity at EPAM Systems

In related news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now owns 13,334 shares in the company, valued at $4,025,934.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares in the company, valued at $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now directly owns 12,117 shares of the company's stock, valued at $3,707,802. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock worth $5,101,117 in the last three months. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently modified their holdings of EPAM. Natixis Advisors L.P. raised its holdings in EPAM Systems by 5.1% during the third quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider's stock worth $7,210,000 after purchasing an additional 1,370 shares in the last quarter. Lone Pine Capital LLC raised its stake in EPAM Systems by 9.2% during the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider's stock worth $269,556,000 after acquiring an additional 88,641 shares in the last quarter. TD Asset Management Inc lifted its position in EPAM Systems by 2.5% in the third quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider's stock valued at $16,127,000 after acquiring an additional 1,558 shares during the last quarter. Wellington Management Group LLP acquired a new position in EPAM Systems in the third quarter valued at $13,402,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of EPAM Systems by 131.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 78,156 shares of the information technology services provider's stock worth $23,239,000 after purchasing an additional 44,388 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other 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.