EPAM Systems (NYSE:EPAM) Price Target Cut to $275.00 by Analysts at Citigroup

EPAM Systems (NYSE:EPAM) had its price objective decreased by investment analysts at Citigroup from $325.00 to $275.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price target would suggest a potential upside of 11.72% from the stock’s current price.

Several other research firms also recently weighed in on EPAM. HSBC decreased their price target on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Jefferies Financial Group reissued a “hold” rating and set a $295.00 target price on shares of EPAM Systems in a research report on Thursday, January 11th. Stifel Nicolaus boosted their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Mizuho boosted their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Guggenheim started coverage on shares of EPAM Systems in a research report on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $328.00.

EPAM Systems Trading Up 0.1 %

NYSE EPAM traded up $0.20 during mid-day trading on Monday, reaching $246.16. 45,239 shares of the stock were exchanged, compared to its average volume of 479,242. EPAM Systems has a one year low of $197.99 and a one year high of $317.50. The stock has a 50 day simple moving average of $285.74 and a 200-day simple moving average of $273.80. The stock has a market cap of $14.27 billion, a P/E ratio of 34.82, a P/E/G ratio of 10.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79.

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 for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that EPAM Systems will post 7.72 EPS for the current year.

Insider Buying and Selling at EPAM Systems

In other news, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lawrence F. Solomon sold 5,350 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the sale, the senior vice president now directly owns 12,117 shares in the company, valued at approximately $3,707,802. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock worth $5,101,117 over the last three months. 4.30% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. increased its holdings in shares of EPAM Systems by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,003 shares of the information technology services provider’s stock worth $1,024,000 after buying an additional 55 shares during the last quarter. CWM LLC increased its holdings in shares of EPAM Systems by 10.1% in the 3rd quarter. CWM LLC now owns 1,436 shares of the information technology services provider’s stock worth $367,000 after buying an additional 132 shares during the last quarter. IFP Advisors Inc bought a new position in shares of EPAM Systems in the 3rd quarter worth $87,000. DnB Asset Management AS purchased a new stake in shares of EPAM Systems in the 3rd quarter valued at $3,567,000. Finally, SG Americas Securities LLC boosted its stake in shares of EPAM Systems by 1,270.9% in the 3rd quarter. SG Americas Securities LLC now owns 13,846 shares of the information technology services provider’s stock valued at $3,540,000 after purchasing an additional 12,836 shares in the last quarter. 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.