FY2024 EPS Estimates for EPAM Systems Raised by Scotiabank

EPAM Systems, Inc. (NYSE:EPAMFree Report) – Research analysts at Scotiabank increased their FY2024 earnings estimates for shares of EPAM Systems in a report released 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 prior estimate of $8.15. Scotiabank currently has a “Sector Outperform” rating and a $275.00 target price 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 analysts have also recently issued reports on EPAM. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $235.00 to $295.00 in a report on Friday, December 6th. Needham & Company LLC increased their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Mizuho upped their price objective on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Susquehanna lifted their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.84.

View Our Latest Analysis on EPAM

EPAM Systems Price Performance

Shares of EPAM stock opened at $226.24 on Monday. The firm has a fifty day simple moving average of $238.41 and a 200-day simple moving average of $212.59. The company has a market capitalization of $12.83 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 3.74 and a beta of 1.50. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of EPAM Systems by 14,325.2% during 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 period. Charles Schwab Investment Management Inc. boosted its stake in EPAM Systems by 45.4% during 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. Massachusetts Financial Services Co. MA grew its holdings in EPAM Systems by 643.4% during the third 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 period. Assenagon Asset Management S.A. raised its position in EPAM Systems by 10.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 346,201 shares of the information technology services provider’s stock worth $80,949,000 after acquiring an additional 33,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of EPAM Systems by 33.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 342,734 shares of the information technology services provider’s stock valued at $64,466,000 after purchasing an additional 85,883 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’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 transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,222 shares of company stock valued at $2,089,878. Insiders own 4.30% of the company’s stock.

EPAM Systems Company Profile

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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.

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