EPAM Systems (NYSE:EPAM) Given New $140.00 Price Target at Morgan Stanley

EPAM Systems (NYSE:EPAM) had its price target hoisted by Morgan Stanley from $97.00 to $140.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

EPAM has been the subject of several other reports. Stifel Nicolaus set a $135.00 price objective on EPAM Systems in a research report on Thursday, August 6th. JPMorgan Chase & Co. lowered EPAM Systems from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Wednesday, August 26th. William Blair cut EPAM Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. TD Cowen reduced their price target on EPAM Systems from $131.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Citigroup upped their price target on EPAM Systems from $100.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, EPAM Systems currently has a consensus rating of “Hold” and a consensus price target of $125.40.

EPAM Systems Stock Down 1.0%

Shares of EPAM stock opened at $136.73 on Wednesday. EPAM Systems has a 12-month low of $73.06 and a 12-month high of $222.53. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $119.78 and a 200-day moving average of $121.86. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.44 and a beta of 1.28.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 6th. The information technology services provider reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.22. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. EPAM Systems had a net margin of 7.15% and a return on equity of 15.84%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 EPS. As a group, equities research analysts predict that EPAM Systems will post 10.47 earnings per share for the current fiscal year.

Institutional Trading of EPAM Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in EPAM Systems during the second quarter worth approximately $526,684,000. Bank of America Corp DE acquired a new stake in shares of EPAM Systems in the second quarter valued at approximately $52,531,000. Bank of New York Mellon Corp acquired a new stake in shares of EPAM Systems in the second quarter valued at approximately $24,729,000. Assenagon Asset Management S.A. boosted its stake in shares of EPAM Systems by 1,560.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 292,542 shares of the information technology services provider’s stock worth $23,213,000 after acquiring an additional 274,923 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of EPAM Systems during the 2nd quarter worth approximately $18,816,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc is a global digital engineering and technology services company that helps organizations design, develop and modernize software and digital platforms. Its services support digital transformation initiatives across industries, including financial services, healthcare, life sciences, retail, travel and consumer products.

The company provides software engineering, product development, consulting, cloud services, data and analytics, artificial intelligence, cybersecurity, quality assurance and platform engineering.