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

EPAM Systems (NYSE:EPAM) had its price target dropped by research analysts at Piper Sandler from $369.00 to $317.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 34.91% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wolfe Research raised shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price target for the company in a report on Thursday, January 4th. Guggenheim assumed coverage on shares of EPAM Systems in a research report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price target on the stock. Stifel Nicolaus upped their price target on EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a report on Monday, February 12th. Wedbush reissued an “outperform” rating and set a $340.00 price objective on shares of EPAM Systems in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $295.00 target price on shares of EPAM Systems in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $317.13.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $234.98 on Thursday. The firm’s 50-day simple moving average is $276.95 and its 200 day simple moving average is $273.45. The stock has a market cap of $13.63 billion, a P/E ratio of 33.24, a P/E/G ratio of 10.26 and a beta of 1.46. 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 fifty-two week low of $197.99 and a fifty-two week high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share 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%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 EPS. Equities analysts expect that EPAM Systems will post 7.72 EPS for the current year.

Insiders Place Their Bets

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the sale, the executive vice president now directly owns 13,334 shares in the company, valued at $4,025,934.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sergey Yezhkov sold 8,000 shares of the firm’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 value of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock valued at $5,101,117 in the last three months. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of EPAM Systems in the fourth quarter worth about $184,713,000. Price T Rowe Associates Inc. MD increased its position in EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after buying an additional 375,439 shares during the period. International Assets Investment Management LLC acquired a new position in shares of EPAM Systems during the fourth quarter worth approximately $663,080,000. TD Asset Management Inc boosted its position in shares of EPAM Systems by 317.4% in the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock valued at $78,276,000 after acquiring an additional 200,181 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of EPAM Systems by 265.7% in the third quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after acquiring an additional 133,163 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Company Profile

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.