EPAM Systems' (EPAM) "Buy" Rating Reiterated at Needham & Company LLC

EPAM Systems (NYSE:EPAM - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $265.00 target price on the information technology services provider's stock. Needham & Company LLC's target price suggests a potential upside of 26.81% from the company's previous close.

A number of other analysts have also weighed in on the stock. Scotiabank upgraded shares of EPAM Systems from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Morgan Stanley raised their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Mizuho upped their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Barclays raised EPAM Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Finally, StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $269.83.

EPAM Systems Price Performance

Shares of EPAM stock traded down $16.09 on Thursday, hitting $208.98. 1,694,396 shares of the company's stock were exchanged, compared to its average volume of 603,753. The company has a 50 day moving average of $243.56 and a 200 day moving average of $222.23. The stock has a market cap of $11.85 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 3.88 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.92% and a net margin of 9.68%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, equities research analysts predict that EPAM Systems will post 8.59 EPS for the current year.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 464 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares of the company's stock, valued at $6,263,604. The trade was a 1.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares of the company's stock, valued at $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital World Investors increased its stake in EPAM Systems by 22.0% in the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock valued at $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. increased its position in EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after buying an additional 620,551 shares in the last quarter. Geode Capital Management LLC raised its stake in EPAM Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after buying an additional 37,119 shares during the period. Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 96.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock worth $191,471,000 after buying an additional 401,355 shares during the period. Finally, Marshall Wace LLP boosted its holdings in EPAM Systems by 126.4% in the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after acquiring an additional 429,644 shares in the last quarter. Institutional investors and hedge funds 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.