EPAM Systems (NYSE:EPAM) Reaches New 52-Week High After Analyst Upgrade

EPAM Systems, Inc. (NYSE:EPAM)’s stock price hit a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $450.00 to $467.00. Morgan Stanley currently has an overweight rating on the stock. EPAM Systems traded as high as $462.09 and last traded at $462.09, with a volume of 6138 shares changing hands. The stock had previously closed at $457.75.

EPAM has been the topic of a number of other reports. Citigroup lifted their price target on EPAM Systems from $415.00 to $440.00 in a research note on Friday, February 19th. VTB Capital restated a “hold” rating and set a $425.00 target price on shares of EPAM Systems in a research report on Monday, April 19th. Piper Sandler increased their price target on shares of EPAM Systems from $442.00 to $507.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of EPAM Systems from $395.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, February 25th. Finally, Barclays increased their target price on shares of EPAM Systems from $377.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, March 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $402.27.

In other news, CFO Jason D. Peterson sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $376.01, for a total transaction of $1,323,931.21. 4.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of EPAM Systems in the fourth quarter valued at $195,576,000. Oak Ridge Investments LLC lifted its holdings in EPAM Systems by 638.7% in the 1st quarter. Oak Ridge Investments LLC now owns 537,299 shares of the information technology services provider’s stock valued at $213,142,000 after purchasing an additional 464,566 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of EPAM Systems by 543.0% during the 4th quarter. Alliancebernstein L.P. now owns 250,382 shares of the information technology services provider’s stock worth $89,724,000 after purchasing an additional 211,442 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of EPAM Systems by 220.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 300,872 shares of the information technology services provider’s stock worth $107,817,000 after buying an additional 206,985 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of EPAM Systems by 198.9% in the first quarter. The Manufacturers Life Insurance Company now owns 287,054 shares of the information technology services provider’s stock valued at $113,872,000 after buying an additional 191,033 shares during the last quarter. 91.96% of the stock is owned by institutional investors.

The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 84.44, a price-to-earnings-growth ratio of 2.97 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.22 and a quick ratio of 4.22. The stock’s 50-day moving average is $417.35 and its 200-day moving average is $365.35.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, February 17th. The information technology services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.37. The company had revenue of $723.49 million for the quarter, compared to analyst estimates of $702.22 million. EPAM Systems had a return on equity of 18.29% and a net margin of 12.31%. Analysts predict that EPAM Systems, Inc. will post 5.27 EPS for the current fiscal year.

About EPAM Systems (NYSE:EPAM)

EPAM Systems, Inc provides digital platform engineering and software development services in North America, Europe, Russia, Belarus, Kazakhstan, Ukraine, Georgia, East Asia, Southeast Asia, and Australia. 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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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