EPAM Systems (NYSE:EPAM) Upgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley upgraded shares of EPAM Systems (NYSE:EPAM) from an underweight rating to an equal weight rating in a research report sent to investors on Friday, MarketBeat.com reports. Morgan Stanley currently has $225.00 price target on the information technology services provider’s stock, down from their previous price target of $236.00.

Other equities analysts have also recently issued research reports about the company. Citigroup cut their price target on EPAM Systems from $325.00 to $275.00 and set a neutral rating for the company in a report on Monday, April 22nd. Guggenheim started coverage on EPAM Systems in a research note on Tuesday, March 19th. They issued a buy rating and a $350.00 price objective on the stock. Mizuho lifted their price objective on EPAM Systems from $340.00 to $345.00 and gave the stock a buy rating in a research note on Friday, February 16th. Piper Sandler reaffirmed an overweight rating and issued a $369.00 price objective on shares of EPAM Systems in a research note on Monday, March 4th. Finally, Scotiabank raised EPAM Systems from a sector perform rating to a sector outperform rating and lifted their price objective for the stock from $265.00 to $350.00 in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of Moderate Buy and a consensus target price of $323.93.

EPAM Systems Stock Up 0.3 %

Shares of EPAM opened at $237.75 on Friday. The business’s 50 day moving average is $280.94 and its 200 day moving average is $273.73. The company has a market capitalization of $13.79 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 10.37 and a beta of 1.43. EPAM Systems has a 12-month low of $197.99 and a 12-month high of $317.50. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. Research analysts expect that EPAM Systems will post 7.72 earnings per share for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the company’s 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 transaction, the executive vice president now owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was 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 in the company, valued at approximately $3,857,050.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Balazs Fejes sold 3,470 shares of the company’s 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 owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last quarter. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds have recently made changes to their positions in EPAM. CWM LLC lifted its holdings in shares of EPAM Systems by 10.1% in the 3rd quarter. CWM LLC now owns 1,436 shares of the information technology services provider’s stock worth $367,000 after buying an additional 132 shares during the period. IFP Advisors Inc purchased a new stake in shares of EPAM Systems during the 3rd quarter worth $87,000. Exchange Traded Concepts LLC lifted its stake in shares of EPAM Systems by 46.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 68 shares during the last quarter. Czech National Bank lifted its stake in shares of EPAM Systems by 47.8% during the 3rd quarter. Czech National Bank now owns 10,130 shares of the information technology services provider’s stock worth $2,590,000 after purchasing an additional 3,276 shares during the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of EPAM Systems during the 3rd quarter worth $212,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

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.