EPAM Systems (NYSE:EPAM) Raised to “Overweight” at Barclays

EPAM Systems (NYSE:EPAM) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $290.00 price objective on the information technology services provider’s stock, up from their previous price objective of $250.00. Barclays‘s price target points to a potential upside of 21.28% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Needham & Company LLC lifted their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.20.

EPAM Systems Stock Performance

Shares of EPAM opened at $239.11 on Tuesday. The stock has a 50 day moving average of $223.69 and a 200 day moving average of $205.14. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.87 and a beta of 1.49. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

Insider Activity

In other news, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 24,372 shares in the company, valued at $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,222 shares of company stock worth $2,089,878 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in EPAM Systems by 2,806.3% during the second quarter. Blue Trust Inc. now owns 465 shares of the information technology services provider’s stock worth $87,000 after purchasing an additional 449 shares during the last quarter. Summit Global Investments lifted its position in EPAM Systems by 2.5% in the 2nd quarter. Summit Global Investments now owns 3,333 shares of the information technology services provider’s stock worth $627,000 after buying an additional 81 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in EPAM Systems in the second quarter worth approximately $69,000. New York State Teachers Retirement System grew its position in EPAM Systems by 7.7% during the second quarter. New York State Teachers Retirement System now owns 58,780 shares of the information technology services provider’s stock valued at $11,057,000 after acquiring an additional 4,212 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after acquiring an additional 52 shares in the last quarter. 91.58% of the stock is owned by 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.