EPAM Systems (NYSE:EPAM) Reaches New 12-Month High on Analyst Upgrade

Shares of EPAM Systems, Inc. (NYSE:EPAM) reached a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $450.00 to $467.00. Morgan Stanley currently has an overweight rating on the stock. EPAM Systems traded as high as $462.09 and last traded at $462.09, with a volume of 6138 shares. The stock had previously closed at $457.75.

Several other analysts have also recently commented on EPAM. Piper Sandler boosted their price target on EPAM Systems from $442.00 to $507.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup upped their target price on shares of EPAM Systems from $415.00 to $440.00 in a report on Friday, February 19th. VTB Capital reissued a “hold” rating and issued a $425.00 price target on shares of EPAM Systems in a research note on Monday, April 19th. Wells Fargo & Company upped their price objective on shares of EPAM Systems from $395.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Finally, Barclays raised their target price on shares of EPAM Systems from $377.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. EPAM Systems has a consensus rating of “Buy” and an average target price of $402.27.

In related news, CFO Jason D. Peterson sold 3,521 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $376.01, for a total value of $1,323,931.21. 4.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its stake in EPAM Systems by 53.7% during the first quarter. Lindbrook Capital LLC now owns 63 shares of the information technology services provider’s stock worth $25,000 after buying an additional 22 shares during the period. Parallel Advisors LLC boosted its position in shares of EPAM Systems by 58.6% during the 1st quarter. Parallel Advisors LLC now owns 92 shares of the information technology services provider’s stock worth $36,000 after purchasing an additional 34 shares during the period. JJJ Advisors Inc. increased its holdings in EPAM Systems by 126.8% in the 1st quarter. JJJ Advisors Inc. now owns 93 shares of the information technology services provider’s stock valued at $37,000 after purchasing an additional 52 shares during the last quarter. Penserra Capital Management LLC raised its position in EPAM Systems by 66.2% in the fourth quarter. Penserra Capital Management LLC now owns 113 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 45 shares during the period. Finally, Baillie Gifford & Co. purchased a new position in shares of EPAM Systems during the fourth quarter worth $41,000. 91.96% of the stock is owned by hedge funds and other institutional investors.

The company has a fifty day moving average of $417.35 and a 200-day moving average of $365.35. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.01. The stock has a market cap of $25.76 billion, a PE ratio of 84.44, a P/E/G ratio of 2.97 and a beta of 1.35.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, February 17th. The information technology services provider reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.37. EPAM Systems had a net margin of 12.31% and a return on equity of 18.29%. The company had revenue of $723.49 million for the quarter, compared to analyst estimates of $702.22 million. As a group, research analysts anticipate that EPAM Systems, Inc. will post 5.27 earnings per share for the current fiscal year.

EPAM Systems Company Profile (NYSE:EPAM)

EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Russia, Belarus, Kazakhstan, Ukraine, Georgia, East Asia, Southeast Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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