EPAM Systems (NYSE:EPAM) Given Buy Rating at Needham & Company LLC

EPAM Systems (NYSE:EPAM)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They presently have a $265.00 target price on the information technology services provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 26.81% from the stock’s current price.

A number of other brokerages have also commented on EPAM. Susquehanna lifted their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered their price objective on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Piper Sandler lifted their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $269.83.

EPAM Systems Stock Performance

EPAM Systems stock opened at $208.98 on Thursday. The stock has a 50-day simple moving average of $243.56 and a 200 day simple moving average of $222.23. 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 has a 12-month low of $169.43 and a 12-month high of $317.50. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.14, a P/E/G ratio of 3.88 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last released 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). EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. On average, research analysts anticipate that EPAM Systems will post 8.59 earnings per share for the current fiscal year.

Insider Activity

In other EPAM Systems news, CFO Jason D. Peterson sold 464 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock worth $2,129,924 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Institutional investors have recently bought and sold shares of the company. Geneva Capital Management LLC lifted its stake in EPAM Systems by 6.0% in the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock valued at $14,187,000 after acquiring an additional 4,027 shares in the last quarter. Centre Asset Management LLC bought a new stake in EPAM Systems in the 4th quarter valued at approximately $8,757,000. Oppenheimer Asset Management Inc. bought a new stake in EPAM Systems in the 3rd quarter valued at approximately $8,195,000. Oliver Luxxe Assets LLC bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $1,889,000. Finally, Victory Capital Management Inc. raised its stake in shares of EPAM Systems by 247.6% during the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider’s stock worth $14,419,000 after purchasing an additional 51,603 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

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.