Scotiabank Has Positive View of EPAM Systems FY2024 Earnings

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

Several other brokerages also recently issued reports on EPAM. Barclays raised shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $250.00 to $290.00 in a research note on Tuesday, December 17th. Susquehanna lifted their target price on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $235.00 to $295.00 in a research note on Friday, December 6th. Mizuho increased their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price objective on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $267.84.

EPAM Systems Stock Performance

EPAM Systems stock opened at $226.24 on Monday. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s 50 day simple moving average is $238.41 and its 200-day simple moving average is $212.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56. The company has a market cap of $12.83 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.50.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of EPAM Systems by 643.4% during 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 purchasing an additional 361,363 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after purchasing an additional 167,343 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares in the last quarter. Finally, Citigroup Inc. grew its stake in EPAM Systems by 199.5% during the third quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,222 shares of company stock valued at $2,089,878 in the last quarter. 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.