EPAM Systems (NYSE:EPAM) PT Lowered to $317.00

EPAM Systems (NYSE:EPAM) had its target price decreased by analysts at Piper Sandler from $369.00 to $317.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 30.93% from the stock’s current price.

A number of other brokerages have also issued reports on EPAM. JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $315.00 to $334.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Mizuho lifted their price objective on EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Morgan Stanley upgraded EPAM Systems from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $236.00 to $225.00 in a research report on Friday, April 26th. Citigroup decreased their price target on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $340.00 price objective on shares of EPAM Systems in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.60.

EPAM Systems Price Performance

EPAM Systems stock traded up $3.94 during mid-day trading on Thursday, hitting $242.12. 347,078 shares of the company were exchanged, compared to its average volume of 451,671. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. EPAM Systems has a 12-month low of $197.99 and a 12-month high of $317.50. The business’s 50 day simple moving average is $274.43 and its two-hundred day simple moving average is $273.18. The company has a market capitalization of $14.04 billion, a P/E ratio of 34.25, a PEG ratio of 10.40 and a beta of 1.46.

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. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. Analysts forecast that EPAM Systems will post 7.71 earnings per share for the current fiscal year.

Insider Activity at EPAM Systems

In related news, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the sale, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at $3,707,802. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently added to or reduced their stakes in EPAM. Natixis Advisors L.P. increased its stake in shares of EPAM Systems by 5.1% in the third quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock worth $7,210,000 after buying an additional 1,370 shares during the last quarter. Lone Pine Capital LLC lifted its position in shares of EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after purchasing an additional 88,641 shares during the last quarter. TD Asset Management Inc increased its holdings in EPAM Systems by 2.5% in the third quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock valued at $16,127,000 after buying an additional 1,558 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in EPAM Systems by 46.7% during the 4th quarter. Flossbach Von Storch AG now owns 11,000 shares of the information technology services provider’s stock worth $3,271,000 after buying an additional 3,500 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of EPAM Systems in the 3rd quarter worth approximately $13,402,000. Institutional investors and hedge funds own 91.58% 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.