Epam Systems Inc. (EPAM) Downgraded by Zacks Investment Research
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 have also recently commented on EPAM. Cantor Fitzgerald reissued a buy rating and issued a $84.00 target price on shares of Epam Systems in a report on Tuesday, July 5th. Barclays PLC dropped their price objective on shares of Epam Systems from $85.00 to $75.00 and set an equal weight rating for the company in a report on Thursday, July 7th. Citigroup Inc. reiterated a buy rating on shares of Epam Systems in a report on Saturday, July 9th. Pacific Crest initiated coverage on shares of Epam Systems in a report on Tuesday, July 12th. They issued an overweight rating and a $77.00 price objective for the company. Finally, Wedbush initiated coverage on shares of Epam Systems in a report on Thursday, September 8th. They issued an outperform rating and a $82.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $81.19.
Epam Systems (NYSE:EPAM) opened at 64.81 on Wednesday. The company’s 50-day moving average is $67.84 and its 200-day moving average is $70.23. Epam Systems has a one year low of $54.88 and a one year high of $84.41. The firm has a market cap of $3.30 billion, a PE ratio of 34.53 and a beta of 1.22.
Epam Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. The company earned $283.80 million during the quarter, compared to the consensus estimate of $281.11 million. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, analysts forecast that Epam Systems will post $2.99 earnings per share for the current fiscal year.
In related news, insider Anthony J. Conte sold 1,200 shares of Epam Systems stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $66.50, for a total value of $79,800.00. Following the completion of the sale, the insider now owns 12,706 shares of the company’s stock, valued at approximately $844,949. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.98% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of EPAM. Alliancebernstein L.P. increased its stake in Epam Systems by 1,498.1% in the second quarter. Alliancebernstein L.P. now owns 1,305,625 shares of the company’s stock valued at $83,965,000 after buying an additional 1,223,925 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Epam Systems by 21.2% in the second quarter. JPMorgan Chase & Co. now owns 2,904,072 shares of the company’s stock valued at $186,762,000 after buying an additional 508,626 shares during the period. FMR LLC boosted its position in shares of Epam Systems by 22.5% in the second quarter. FMR LLC now owns 2,714,203 shares of the company’s stock valued at $174,550,000 after buying an additional 499,002 shares during the period. Franklin Resources Inc. boosted its position in shares of Epam Systems by 187.7% in the first quarter. Franklin Resources Inc. now owns 488,700 shares of the company’s stock valued at $36,491,000 after buying an additional 318,830 shares during the period. Finally, Whale Rock Capital Management LLC boosted its position in shares of Epam Systems by 193.8% in the second quarter. Whale Rock Capital Management LLC now owns 414,822 shares of the company’s stock valued at $26,677,000 after buying an additional 273,632 shares during the period. 94.13% of the stock is owned by institutional investors and hedge funds.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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