EPAM Systems (NYSE:EPAM) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of EPAM Systems (NYSE:EPAM) in a research report report published on Thursday,Benzinga reports. They currently have a $265.00 target price on the information technology services provider’s stock.

A number of other research firms have also issued reports on EPAM. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $235.00 to $295.00 in a report on Friday, December 6th. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Citigroup lifted their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Mizuho lifted their price target on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group dropped their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $269.83.

EPAM Systems Price Performance

NYSE:EPAM opened at $208.98 on Thursday. The business’s 50-day moving average price is $243.56 and its 200 day moving average price is $222.34. The firm has a market cap of $11.85 billion, a P/E ratio of 26.66, a PEG ratio of 3.38 and a beta of 1.51. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last released its 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). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, sell-side analysts predict that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the sale, the chief financial officer now directly owns 24,372 shares in the company, valued at $6,263,604. The trade was a 1.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction dated 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 sale, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,300 shares of company stock worth $2,129,924. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 125 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of EPAM Systems in the 4th quarter valued at approximately $35,000. Finally, Farther Finance Advisors LLC raised its stake in shares of EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 106 shares in the last quarter. 91.58% of the stock is owned by 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.