Morgan Stanley Raises EPAM Systems (NYSE:EPAM) Price Target to $256.00

EPAM Systems (NYSE:EPAM) had its price target hoisted by Morgan Stanley from $230.00 to $256.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

Several other analysts have also commented on the stock. Susquehanna increased their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Jefferies Financial Group cut their price target on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, November 8th. Finally, StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $271.47.

EPAM Systems Trading Up 1.1 %

EPAM opened at $253.39 on Friday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.72 and a beta of 1.50. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a fifty day moving average price of $240.65 and a 200-day moving average price of $217.49.

Insider Activity at EPAM Systems

In related news, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction 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. This represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,300 shares of company stock worth $2,366,924 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Hedge funds have recently modified their holdings of the company. Geneva Capital Management LLC raised its position in EPAM Systems by 6.0% during the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after acquiring an additional 4,027 shares during the period. Centre Asset Management LLC acquired a new position in shares of EPAM Systems during the 4th quarter worth about $8,757,000. Oppenheimer Asset Management Inc. purchased a new position in EPAM Systems in the 3rd quarter valued at about $8,195,000. Oliver Luxxe Assets LLC acquired a new stake in EPAM Systems in the 4th quarter worth about $1,889,000. Finally, Victory Capital Management Inc. increased its stake in 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 buying an additional 51,603 shares in the last quarter. 91.58% of the stock is 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.