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

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

Other equities research analysts have also issued research reports about the company. HSBC lowered their price objective on EPAM Systems from $350.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Barclays cut their price objective on shares of EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Mizuho increased their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Scotiabank dropped their target price on EPAM Systems from $350.00 to $300.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim assumed coverage on EPAM Systems in a report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $315.60.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded up $3.94 during trading on Thursday, hitting $242.12. The stock had a trading volume of 347,078 shares, compared to its average volume of 451,671. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. EPAM Systems has a 12-month low of $197.99 and a 12-month high of $317.50. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 10.40 and a beta of 1.46. The stock has a 50-day simple moving average of $274.43 and a two-hundred day simple moving average of $273.18.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. EPAM Systems’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. On average, equities research analysts expect that EPAM Systems will post 7.71 earnings per share for the current fiscal year.

Insider Activity at EPAM Systems

In other news, SVP Lawrence F. Solomon sold 5,350 shares of the 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 completion of the sale, the senior vice president now directly owns 12,117 shares in the company, valued at $3,707,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction on Monday, February 26th. The stock was 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 owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s 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 of the company’s stock, valued at $3,707,802. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,820 shares of company stock valued at $5,101,117. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EPAM Systems

Hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new position in EPAM Systems in the 4th quarter valued at about $25,000. Riverview Trust Co purchased a new stake in shares of EPAM Systems during the 1st quarter valued at approximately $29,000. VisionPoint Advisory Group LLC raised its position in shares of 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 valued at $35,000 after buying an additional 69 shares during the period. Lindbrook Capital LLC lifted its holdings in EPAM Systems by 123.3% in the third quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 90 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in EPAM Systems in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors 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.