diff --git a/app/code/Magento/Ui/view/base/web/js/form/element/date.js b/app/code/Magento/Ui/view/base/web/js/form/element/date.js
index 202cfe93069b0..eb8dfb4b4057e 100644
--- a/app/code/Magento/Ui/view/base/web/js/form/element/date.js
+++ b/app/code/Magento/Ui/view/base/web/js/form/element/date.js
@@ -53,13 +53,12 @@ define([
             pickerDefaultDateFormat: 'MM/dd/y', // ICU Date Format
             pickerDefaultTimeFormat: 'h:mm a', // ICU Time Format
 
+            elementTmpl: 'ui/form/element/date',
+
             /**
-             * Moment compatible format used for moment conversion
-             * of date from datePicker
+             * Format needed by moment timezone for conversion
              */
-            momentFormat: 'MM/DD/YYYY',
-
-            elementTmpl: 'ui/form/element/date',
+            timezoneFormat: 'YYYY-MM-DD HH:mm',
 
             listens: {
                 'value': 'onValueChange',
@@ -141,15 +140,17 @@ define([
          */
         onShiftedValueChange: function (shiftedValue) {
             var value,
-                formattedValue;
+                formattedValue,
+                momentValue;
 
             if (shiftedValue) {
+                momentValue = moment(shiftedValue, this.pickerDateTimeFormat);
+
                 if (this.options.showsTime) {
-                    formattedValue = moment(shiftedValue).format('YYYY-MM-DD HH:mm');
+                    formattedValue = moment(momentValue).format(this.timezoneFormat);
                     value = moment.tz(formattedValue, this.storeTimeZone).tz('UTC').toISOString();
                 } else {
-                    value = moment(shiftedValue, this.momentFormat);
-                    value = value.format(this.outputDateFormat);
+                    value = momentValue.format(this.outputDateFormat);
                 }
             } else {
                 value = '';
@@ -166,8 +167,6 @@ define([
          */
         prepareDateTimeFormats: function () {
             this.pickerDateTimeFormat = this.options.dateFormat;
-            this.momentFormat = this.options.dateFormat ?
-                    utils.convertToMomentFormat(this.options.dateFormat) : this.momentFormat;
 
             if (this.options.showsTime) {
                 this.pickerDateTimeFormat += ' ' + this.options.timeFormat;
diff --git a/dev/tests/js/jasmine/tests/app/code/Magento/Ui/base/js/form/element/date-time.test.js b/dev/tests/js/jasmine/tests/app/code/Magento/Ui/base/js/form/element/date-time.test.js
new file mode 100644
index 0000000000000..4271ecc563b9a
--- /dev/null
+++ b/dev/tests/js/jasmine/tests/app/code/Magento/Ui/base/js/form/element/date-time.test.js
@@ -0,0 +1,41 @@
+/**
+ * Copyright © 2016 Magento. All rights reserved.
+ * See COPYING.txt for license details.
+ */
+
+/*eslint max-nested-callbacks: 0*/
+
+define([
+    'Magento_Ui/js/form/element/date',
+    'mageUtils',
+    'moment'
+], function (DateElement, utils, moment) {
+    'use strict';
+
+    describe('Magento_Ui/js/form/element/date', function () {
+        var params, model;
+
+        beforeEach(function () {
+            params = {
+                dataScope: 'abstract',
+                options: {
+                    showsTime: true
+                }
+            };
+            model = new DateElement(params);
+        });
+
+        it('Check prepareDateTimeFormats function', function () {
+            spyOn(utils, 'convertToMomentFormat').and.callThrough();
+            model.prepareDateTimeFormats();
+            expect(utils.convertToMomentFormat).toHaveBeenCalled();
+        });
+
+        it('Check onShiftedValueChange function', function () {
+            spyOn(moment, 'tz').and.callThrough();
+            model.onShiftedValueChange('2016-12-23 9:11 PM');
+            expect(moment.tz).toHaveBeenCalled();
+        });
+
+    });
+});
diff --git a/dev/tests/js/jasmine/tests/lib/mage/misc.test.js b/dev/tests/js/jasmine/tests/lib/mage/misc.test.js
index a9ea5ed90192f..62950372d3a73 100644
--- a/dev/tests/js/jasmine/tests/lib/mage/misc.test.js
+++ b/dev/tests/js/jasmine/tests/lib/mage/misc.test.js
@@ -15,7 +15,7 @@ define([
             var format, momentFormat;
 
             format = 'M/d/yy';
-            momentFormat = 'MM/DD/YYYY';
+            momentFormat = 'M/DD/YYYY';
             expect(utils.convertToMomentFormat(format)).toBe(momentFormat);
         });
 
diff --git a/lib/web/mage/utils/misc.js b/lib/web/mage/utils/misc.js
index 29fed485f290c..3fdcf3e7de542 100644
--- a/lib/web/mage/utils/misc.js
+++ b/lib/web/mage/utils/misc.js
@@ -220,7 +220,6 @@ define([
 
             newFormat = format.replace(/yy|y/gi, 'YYYY'); // replace the year
             newFormat = newFormat.replace(/dd|d/g, 'DD'); // replace the date
-            newFormat = newFormat.replace(/mm|m/gi, 'MM'); //replace the month
 
             return newFormat;
         }