EPAM Systems, Inc. (EPAM) Given “Buy” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of EPAM Systems, Inc. (NYSE:EPAM) in a research report report published on Thursday morning. They currently have a $92.00 target price on the information technology services provider’s stock.

“3Q17 revenues top expectations. Revenue for 3Q17 was $377.5 mn, up 8.2% q/q and 26.6% y/y (24.6% in constant currency), vs. our $366.5 mn estimate and the $368.2 mn FactSet consensus. The FX tailwind of 2% compares to a 0.7% headwind in the previous period. The quarter was the 27th consecutive quarter of over 20% y/y growth and 22nd since the IPO, five years ago. Adjusted operating profit of $62.6 mn (16.6% adjusted operating margin) was up 26% y/y and above the consensus of $59.6 mn. Non-GAAP EPS was $0.92, above our estimate and the consensus of $0.85. Our Performance Table is on pg.”,” the firm’s analyst wrote.

A number of other research firms also recently weighed in on EPAM. Zacks Investment Research upgraded shares of EPAM Systems from a hold rating to a buy rating and set a $102.00 target price on the stock in a report on Wednesday. KeyCorp restated a buy rating and issued a $100.00 target price on shares of EPAM Systems in a report on Sunday, October 29th. Cowen and Company restated a buy rating and issued a $95.00 target price on shares of EPAM Systems in a report on Thursday, October 12th. Citigroup Inc. boosted their target price on shares of EPAM Systems from $96.00 to $105.00 and gave the stock a buy rating in a report on Friday, October 13th. Finally, BidaskClub upgraded shares of EPAM Systems from a hold rating to a buy rating in a report on Tuesday, October 3rd. Fifteen investment analysts have rated the stock with a buy rating, EPAM Systems presently has a consensus rating of Buy and an average target price of $97.21.

EPAM Systems (EPAM) traded up $0.52 during trading on Thursday, hitting $99.67. 391,254 shares of the stock were exchanged, compared to its average volume of 264,660. EPAM Systems has a 12-month low of $54.53 and a 12-month high of $100.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market cap of $5,234.97, a P/E ratio of 39.40, a PEG ratio of 2.12 and a beta of 0.95.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. EPAM Systems had a net margin of 9.41% and a return on equity of 16.35%. The firm had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. During the same period in the previous year, the firm posted $0.76 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. sell-side analysts forecast that EPAM Systems will post 2.55 earnings per share for the current year.

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In other EPAM Systems news, CEO Arkadiy Dobkin sold 56,945 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $84.79, for a total value of $4,828,366.55. Following the completion of the sale, the chief executive officer now directly owns 2,070,851 shares of the company’s stock, valued at approximately $175,587,456.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Elaina Shekhter sold 500 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $90.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,000 shares of company stock valued at $24,354,345. 6.17% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in EPAM. Acrospire Investment Management LLC purchased a new stake in EPAM Systems in the 2nd quarter valued at about $101,000. Jacobi Capital Management LLC purchased a new stake in EPAM Systems in the 2nd quarter valued at about $119,000. PNC Financial Services Group Inc. boosted its position in EPAM Systems by 34.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in EPAM Systems by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 166 shares during the period. Finally, US Bancorp DE boosted its position in EPAM Systems by 1,762.5% in the 2nd quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock valued at $175,000 after buying an additional 1,974 shares during the period. 87.89% of the stock is owned by institutional investors.

About EPAM Systems

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

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