FY2024 EPS Estimates for EPAM Systems Boosted by Scotiabank

EPAM Systems, Inc. (NYSE:EPAM - Free Report) - Stock analysts at Scotiabank raised their FY2024 earnings per share (EPS) estimates for EPAM Systems in a report issued on Wednesday, January 8th. Scotiabank analyst D. Goyal now anticipates that the information technology services provider will post earnings of $8.60 per share for the year, up from their prior forecast of $8.15. Scotiabank currently has a "Sector Outperform" rating and a $275.00 price objective on the stock. The consensus estimate for EPAM Systems' current full-year earnings is $8.58 per share. Scotiabank also issued estimates for EPAM Systems' FY2025 earnings at $8.60 EPS.

Several other analysts have also issued reports on the stock. Citigroup raised their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Piper Sandler boosted their price target on EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised EPAM Systems from a "neutral" rating to a "buy" rating and upped their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. StockNews.com raised EPAM Systems from a "hold" rating to a "buy" rating in a report on Friday, November 15th. Finally, Susquehanna upped their target price on EPAM Systems from $240.00 to $270.00 and gave the company a "positive" rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $267.84.

EPAM Systems Trading Down 1.2 %

EPAM Systems stock opened at $225.72 on Monday. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56. The firm has a market capitalization of $12.80 billion, a PE ratio of 29.31, a PEG ratio of 3.74 and a beta of 1.50. The business's 50-day simple moving average is $237.68 and its 200-day simple moving average is $212.30.

Institutional Trading of EPAM Systems

Several hedge funds have recently bought and sold shares of EPAM. Geneva Capital Management LLC lifted its holdings in shares of EPAM Systems by 6.0% in the third quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider's stock valued at $14,187,000 after purchasing an additional 4,027 shares in the last quarter. Centre Asset Management LLC acquired a new position in EPAM Systems during the 4th quarter worth approximately $8,757,000. Oppenheimer Asset Management Inc. bought a new position in shares of EPAM Systems during the 3rd quarter worth approximately $8,195,000. Victory Capital Management Inc. grew its stake in shares of EPAM Systems by 247.6% during the 3rd quarter. Victory Capital Management Inc. now owns 72,447 shares of the information technology services provider's stock worth $14,419,000 after acquiring an additional 51,603 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in shares of EPAM Systems by 1,741.1% in the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider's stock valued at $7,303,000 after purchasing an additional 34,701 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 464 shares of EPAM Systems 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 transaction, the chief financial officer now owns 24,372 shares of the company's stock, valued at $6,263,604. This trade represents a 1.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company's stock, valued at $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,222 shares of company stock valued at $2,089,878. Company insiders own 4.30% 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.