The Goldman Sachs Group Upgrades EPAM Systems (NYSE:EPAM) to “Buy”

EPAM Systems (NYSE:EPAM) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $295.00 price objective on the information technology services provider’s stock, up from their prior price objective of $235.00. The Goldman Sachs Group’s price target indicates a potential upside of 20.19% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, November 8th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup upped their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.95.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $245.45 on Friday. The business’s 50 day moving average price is $215.53 and its 200 day moving average price is $201.44. The firm has a market cap of $13.92 billion, a P/E ratio of 31.88, a P/E/G ratio of 3.70 and a beta of 1.49. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the transaction, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares during the last quarter. TD Asset Management Inc increased its stake in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after acquiring an additional 160,989 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of EPAM Systems by 643.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after acquiring an additional 361,363 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of EPAM Systems by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,834 shares of the information technology services provider’s stock worth $71,451,000 after acquiring an additional 15,116 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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.