EPAM Systems (NYSE:EPAM) Shares Gap Down – Here’s What Happened

EPAM Systems, Inc. (NYSE:EPAM) shares gapped down prior to trading on Thursday . The stock had previously closed at $87.70, but opened at $82.00. EPAM Systems shares last traded at $80.8090, with a volume of 318,883 shares.

Analysts Set New Price Targets

EPAM has been the topic of a number of recent research reports. Wedbush initiated coverage on EPAM Systems in a research note on Monday. They issued a “neutral” rating and a $99.00 target price on the stock. Morgan Stanley set a $112.00 target price on EPAM Systems in a research note on Friday, May 8th. Citigroup restated a “cautious” rating on shares of EPAM Systems in a research note on Friday, May 29th. JPMorgan Chase & Co. lowered their target price on EPAM Systems from $215.00 to $183.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Weiss Ratings downgraded EPAM Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $148.21.

EPAM Systems Stock Down 9.9%

The company has a market cap of $4.13 billion, a PE ratio of 11.36, a P/E/G ratio of 0.86 and a beta of 1.41. The business has a 50-day simple moving average of $107.97 and a 200-day simple moving average of $154.15. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.05.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.EPAM Systems’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 earnings per share. Equities research analysts anticipate that EPAM Systems, Inc. will post 10.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EPAM. Sunbelt Securities Inc. lifted its position in shares of EPAM Systems by 4,233.3% during the 4th quarter. Sunbelt Securities Inc. now owns 130 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 127 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of EPAM Systems during the 2nd quarter valued at approximately $30,000. Sound Income Strategies LLC lifted its position in shares of EPAM Systems by 279.5% during the 4th quarter. Sound Income Strategies LLC now owns 148 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Finally, 1248 Management LLC purchased a new position in shares of EPAM Systems during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

About EPAM Systems

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.