Redburn Atlantic Initiates Coverage on EPAM Systems (NYSE:EPAM)

Investment analysts at Redburn Atlantic initiated coverage on shares of EPAM Systems (NYSE:EPAM) in a note issued to investors on Friday, Briefing.com reports. The brokerage set a “neutral” rating and a $195.00 price target on the information technology services provider’s stock. Redburn Atlantic’s price target would indicate a potential upside of 4.33% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Needham & Company LLC dropped their price target on EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Susquehanna lifted their target price on EPAM Systems from $300.00 to $360.00 and gave the company a “positive” rating in a research report on Friday, February 16th. Wolfe Research cut EPAM Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 17th. Scotiabank cut EPAM Systems from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $300.00 to $245.00 in a research report on Friday, May 10th. Finally, TD Cowen decreased their target price on EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $277.65.

EPAM Systems Stock Down 1.3 %

EPAM opened at $186.90 on Friday. The company has a market capitalization of $10.83 billion, a P/E ratio of 25.57, a P/E/G ratio of 4.34 and a beta of 1.46. The stock has a fifty day moving average of $244.84 and a 200-day moving average of $270.95. EPAM Systems has a fifty-two week low of $180.28 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. On average, equities analysts expect that EPAM Systems will post 7.87 EPS for the current year.

Insider Transactions at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 over the last ninety days. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in EPAM Systems in the 1st quarter valued at $1,252,000. Comerica Bank grew its stake in shares of EPAM Systems by 3.1% during the 1st quarter. Comerica Bank now owns 9,593 shares of the information technology services provider’s stock worth $2,649,000 after acquiring an additional 286 shares during the period. Tidal Investments LLC grew its stake in shares of EPAM Systems by 17.2% during the 1st quarter. Tidal Investments LLC now owns 3,167 shares of the information technology services provider’s stock worth $875,000 after acquiring an additional 464 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after acquiring an additional 56 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of EPAM Systems by 1.4% during the 1st quarter. California State Teachers Retirement System now owns 91,536 shares of the information technology services provider’s stock worth $25,279,000 after acquiring an additional 1,260 shares during the period. 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.