EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Barclays Analyst Says

EPAM Systems (NYSE:EPAM) had its target price raised by Barclays from $200.00 to $215.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Piper Sandler increased their price target on EPAM Systems from $170.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Needham & Company LLC increased their price target on EPAM Systems from $185.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Guggenheim increased their price target on EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Jefferies Financial Group decreased their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $231.50.

EPAM Systems Trading Down 1.4%

Shares of NYSE:EPAM opened at $184.29 on Monday. EPAM Systems has a 12-month low of $138.15 and a 12-month high of $269.00. The business’s fifty day simple moving average is $165.05 and its 200-day simple moving average is $210.80. The company has a market capitalization of $10.52 billion, a PE ratio of 23.51, a P/E/G ratio of 3.38 and a beta of 1.71. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.14. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ninety One UK Ltd acquired a new stake in EPAM Systems during the first quarter worth about $186,280,000. Invesco Ltd. raised its position in EPAM Systems by 37.1% during the first quarter. Invesco Ltd. now owns 3,569,498 shares of the information technology services provider’s stock valued at $602,674,000 after acquiring an additional 965,089 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in EPAM Systems by 98.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider’s stock valued at $274,923,000 after acquiring an additional 809,423 shares in the last quarter. Norges Bank purchased a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $173,053,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $166,906,000. 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.