Scotiabank Brokers Boost Earnings Estimates for EPAM Systems

EPAM Systems, Inc. (NYSE:EPAM) – Stock analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for EPAM Systems in a note issued to investors on Wednesday, January 8th. Scotiabank analyst D. Goyal now forecasts that the information technology services provider will post earnings per share of $8.60 for the year, up from their previous forecast of $8.15. Scotiabank 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.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Mizuho upped their target price on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Needham & Company LLC increased their price objective on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Citigroup boosted their target price 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. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $267.84.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $225.72 on Monday. The company has a market capitalization of $12.80 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 3.74 and a beta of 1.50. 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 stock has a fifty day moving average of $237.68 and a 200-day moving average of $212.30. EPAM Systems has a one year low of $169.43 and a one year high of $317.50.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds have recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its position in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of EPAM Systems during the fourth quarter worth about $35,000. Farther Finance Advisors LLC raised its position in EPAM Systems by 101.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 106 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in EPAM Systems in the 3rd quarter valued at approximately $44,000. Finally, Sentry Investment Management LLC bought a new position in shares of EPAM Systems during the 3rd quarter worth approximately $52,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EPAM Systems

In other EPAM Systems news, SVP Viktar Dvorkin sold 6,758 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the transaction, the senior vice president now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the 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 sale, the chief financial officer now directly owns 24,372 shares in the company, valued at $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,222 shares of company stock valued at $2,089,878. Corporate 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.