EPAM Systems (NYSE:EPAM) Given New $311.00 Price Target at JPMorgan Chase & Co.

EPAM Systems (NYSE:EPAM) had its price target lowered by JPMorgan Chase & Co. from $331.00 to $311.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

Other research analysts have also issued research reports about the company. Wedbush reissued an outperform rating and set a $340.00 price objective on shares of EPAM Systems in a report on Wednesday, April 10th. Citigroup cut their target price on shares of EPAM Systems from $325.00 to $275.00 and set a neutral rating for the company in a research report on Monday, April 22nd. Piper Sandler lowered their price target on EPAM Systems from $369.00 to $317.00 and set an overweight rating on the stock in a research report on Thursday. Morgan Stanley raised EPAM Systems from an underweight rating to an equal weight rating and cut their price objective for the stock from $236.00 to $225.00 in a research report on Friday, April 26th. Finally, Mizuho raised their target price on EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $315.60.

EPAM Systems Trading Up 1.7 %

Shares of EPAM Systems stock traded up $3.94 on Thursday, reaching $242.12. 341,921 shares of the company were exchanged, compared to its average volume of 497,799. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01. EPAM Systems has a fifty-two week low of $197.99 and a fifty-two week high of $317.50. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 10.25 and a beta of 1.46. The stock has a fifty day moving average price of $275.62 and a 200-day moving average price of $273.20.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $2.71 EPS. The company’s revenue was down 6.0% on a year-over-year basis. On average, analysts expect that EPAM Systems will post 7.72 EPS for the current year.

Insider Transactions at EPAM Systems

In related news, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the sale, the senior vice president now directly owns 12,117 shares in the company, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last three months, insiders sold 16,820 shares of company stock valued at $5,101,117. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new position in EPAM Systems in the fourth quarter worth $25,000. Riverview Trust Co bought a new position in shares of EPAM Systems in the first quarter valued at about $29,000. VisionPoint Advisory Group LLC lifted its position in EPAM Systems by 103.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Lindbrook Capital LLC grew its holdings in EPAM Systems by 123.3% during the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 90 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in EPAM Systems in the 4th quarter valued at about $43,000. 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.