EPAM Systems, Inc. (EPAM) Downgraded to “Hold” at BidaskClub
BidaskClub downgraded shares of EPAM Systems, Inc. (NYSE:EPAM) from a buy rating to a hold rating in a report published on Saturday.
Other equities analysts also recently issued research reports about the company. KeyCorp upped their price objective on EPAM Systems from $90.00 to $94.00 and gave the company an overweight rating in a research report on Wednesday. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the stock a buy rating in a report on Sunday, August 6th. UBS AG upped their target price on EPAM Systems from $89.00 to $96.00 and gave the stock a buy rating in a report on Friday, August 4th. Jefferies Group LLC set a $95.00 target price on EPAM Systems and gave the stock a buy rating in a report on Thursday, August 17th. Finally, Zacks Investment Research cut EPAM Systems from a buy rating to a hold rating in a report on Monday, August 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $91.54.
Shares of EPAM Systems (NYSE:EPAM) traded down 1.46% during mid-day trading on Friday, reaching $81.80. The company had a trading volume of 732,889 shares. EPAM Systems has a 1-year low of $54.53 and a 1-year high of $87.93. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 39.50 and a beta of 0.99. The firm has a 50-day moving average price of $82.32 and a 200-day moving average price of $80.29.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ 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 $342.00 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. EPAM Systems’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Equities analysts expect that EPAM Systems will post $3.30 earnings per share for the current year.
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In related news, CEO Arkadiy Dobkin sold 5,000 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $78.86, for a total transaction of $394,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,105,851 shares in the company, valued at approximately $166,067,409.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 192,500 shares of company stock valued at $15,876,045 over the last 90 days. 6.17% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wisconsin Investment Board lifted its stake in shares of EPAM Systems by 28.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 70,490 shares of the information technology services provider’s stock worth $5,927,000 after purchasing an additional 15,490 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of EPAM Systems by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock worth $69,186,000 after purchasing an additional 211,513 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter worth $484,000. Swiss National Bank lifted its stake in shares of EPAM Systems by 0.9% during the 1st quarter. Swiss National Bank now owns 75,962 shares of the information technology services provider’s stock worth $5,737,000 after purchasing an additional 700 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of EPAM Systems by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 215,088 shares of the information technology services provider’s stock worth $16,244,000 after purchasing an additional 7,042 shares during the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.
About EPAM Systems
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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