EPAM Systems, Inc. (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “

A number of other research analysts also recently weighed in on EPAM. Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 price target on shares of EPAM Systems in a research note on Thursday, May 4th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target (up previously from $82.00) on shares of EPAM Systems in a research note on Friday, May 5th. Barclays PLC reissued an “overweight” rating and issued a $84.00 price target (up previously from $80.00) on shares of EPAM Systems in a research note on Friday, May 5th. Wedbush increased their price target on EPAM Systems from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. Finally, Monness Crespi & Hardt increased their price target on EPAM Systems from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. EPAM Systems has a consensus rating of “Buy” and a consensus price target of $90.11.

Shares of EPAM Systems (NYSE EPAM) traded up 2.86% during midday trading on Monday, hitting $82.01. The stock had a trading volume of 243,977 shares. The stock has a 50 day moving average price of $84.05 and a 200-day moving average price of $78.11. EPAM Systems has a 52 week low of $54.53 and a 52 week high of $87.93. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 39.60 and a beta of 0.99.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. The company had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. Equities research analysts anticipate that EPAM Systems will post $3.32 earnings per share for the current year.

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In related news, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $84.76, for a total transaction of $2,901,673.84. Following the sale, the senior vice president now owns 48,467 shares of the company’s stock, valued at approximately $4,108,062.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $85.65, for a total value of $2,231,610.75. Following the sale, the senior vice president now directly owns 12,733 shares in the company, valued at approximately $1,090,581.45. The disclosure for this sale can be found here. Company insiders own 6.17% of the company’s stock.

A number of hedge funds have recently modified their holdings of EPAM. Acrospire Investment Management LLC purchased a new stake in EPAM Systems during the second quarter valued at about $101,000. Jacobi Capital Management LLC purchased a new stake in EPAM Systems during the second quarter valued at about $119,000. PNC Financial Services Group Inc. increased its stake in EPAM Systems by 34.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in EPAM Systems by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 166 shares in the last quarter. Finally, Creative Planning increased its stake in EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Company Profile

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

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