Key Points
- EPAM SVP Lawrence Solomon sold 3,299 shares at an average price of $160.14, for about $528,302. He retained 30,390 shares after the sale, reducing his position by 9.79%.
- EPAM reported quarterly adjusted earnings of $3.51 per share, above the $3.41 analyst consensus, and revenue of $1.43 billion, also exceeding expectations. Revenue grew 2.3% year over year.
- Analyst views were mixed, with six Buy ratings and 11 Hold ratings; MarketBeat reported an overall Hold rating and an average price target of $145.87.
EPAM Systems, Inc. (NYSE:EPAM - Get Free Report) SVP Lawrence Solomon sold 3,299 shares of EPAM Systems stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $160.14, for a total transaction of $528,301.86. Following the sale, the senior vice president owned 30,390 shares in the company, valued at $4,866,654.60. This represents a 9.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
EPAM Systems Trading Up 0.7%
Shares of EPAM Systems stock opened at $163.88 on Friday. EPAM Systems, Inc. has a 52-week low of $73.06 and a 52-week high of $222.53. The firm has a market capitalization of $8.36 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.76 and a quick ratio of 2.76. The company's fifty day moving average price is $125.48 and its two-hundred day moving average price is $120.28.
EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The information technology services provider reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.10. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. EPAM Systems had a net margin of 7.53% and a return on equity of 16.76%. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $3.08 EPS. On average, analysts expect that EPAM Systems, Inc. will post 10.50 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of EPAM Systems from $131.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Wells Fargo & Company lifted their price objective on EPAM Systems from $156.00 to $176.00 and gave the company an "overweight" rating in a report on Friday, November 6th. Morgan Stanley lifted their price objective on EPAM Systems from $97.00 to $140.00 and gave the company an "equal weight" rating in a report on Wednesday, November 4th. William Blair lowered EPAM Systems from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $135.00 price target on EPAM Systems in a research report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, EPAM Systems currently has an average rating of "Hold" and an average target price of $145.87.
Check Out Our Latest Stock Report on EPAM Systems
Hedge Funds Weigh In On EPAM Systems
Institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. grew its stake in EPAM Systems by 236.2% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 232 shares of the information technology services provider's stock worth $25,000 after buying an additional 163 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of EPAM Systems by 47.3% in the third quarter. Financial Management Professionals Inc. now owns 268 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 86 shares during the last quarter. Signaturefd LLC raised its stake in shares of EPAM Systems by 1,068.3% in the second quarter. Signaturefd LLC now owns 479 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 438 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of EPAM Systems in the second quarter valued at approximately $43,000. Finally, Trust Asset Management LLC acquired a new position in shares of EPAM Systems in the 2nd quarter worth approximately $50,000. 91.58% of the stock is owned by institutional investors.
EPAM Systems Company Profile
(
Get Free Report)
EPAM Systems is a global provider of software engineering, digital transformation and consulting services. The company helps businesses design, build and maintain software products and digital platforms, and offers services in areas such as cloud computing, data and artificial intelligence, and cybersecurity. Founded in 1993 by Arkadiy Dobkin, EPAM has grown from a software development firm into a technology services company serving clients across the Americas, Europe and Asia-Pacific. It works with organizations in industries including financial services, healthcare, retail and technology.
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