EPAM Systems (NYSE:EPAM) Price Target Raised to $256.00

EPAM Systems (NYSE:EPAM) had its target price upped by Morgan Stanley from $230.00 to $256.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

A number of other brokerages have also recently commented on EPAM. Needham & Company LLC increased their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $235.00 to $295.00 in a report on Friday, December 6th. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $245.00 to $275.00 in a research note on Monday, November 11th. Finally, Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $271.47.

EPAM Systems Price Performance

NYSE:EPAM opened at $253.39 on Friday. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $240.65 and its two-hundred day moving average price is $217.59. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 3.72 and a beta of 1.50. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50.

Insider Activity at EPAM Systems

In related news, 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 in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the completion of the sale, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,300 shares of company stock valued at $2,366,924. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds have recently modified their holdings of EPAM. Public Sector Pension Investment Board boosted its position in shares of EPAM Systems by 76.1% in the second quarter. Public Sector Pension Investment Board now owns 2,226 shares of the information technology services provider’s stock worth $419,000 after buying an additional 962 shares during the period. The Manufacturers Life Insurance Company raised its holdings in EPAM Systems by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 37,303 shares of the information technology services provider’s stock valued at $7,017,000 after buying an additional 3,082 shares in the last quarter. Mackenzie Financial Corp raised its holdings in EPAM Systems by 12.4% during the second quarter. Mackenzie Financial Corp now owns 8,859 shares of the information technology services provider’s stock valued at $1,666,000 after buying an additional 980 shares in the last quarter. Creative Planning raised its holdings in EPAM Systems by 34.0% during the second quarter. Creative Planning now owns 3,574 shares of the information technology services provider’s stock valued at $672,000 after buying an additional 907 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of EPAM Systems by 5.0% in the third quarter. Czech National Bank now owns 11,598 shares of the information technology services provider’s stock worth $2,308,000 after purchasing an additional 551 shares during the period. 91.58% of the stock is currently 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.