EPAM Systems (NYSE:EPAM) Upgraded to Hold at Wedbush

EPAM Systems (NYSE:EPAM) was upgraded by stock analysts at Wedbush to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on EPAM. Wells Fargo & Company dropped their price objective on EPAM Systems from $195.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Mizuho lifted their target price on shares of EPAM Systems from $199.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. Wall Street Zen lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Truist Financial dropped their price target on shares of EPAM Systems from $146.00 to $112.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, Citigroup reissued a “cautious” rating on shares of EPAM Systems in a report on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of “Hold” and a consensus target price of $148.21.

EPAM Systems Stock Down 2.9%

EPAM opened at $92.62 on Monday. The company has a market cap of $4.84 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.88 and a beta of 1.41. The business’s 50-day moving average price is $109.85 and its 200-day moving average price is $155.47. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. EPAM Systems has a 12 month low of $89.25 and a 12 month high of $222.53.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business posted $2.41 EPS. EPAM Systems’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that EPAM Systems will post 10.4 EPS for the current year.

Hedge Funds Weigh In On EPAM Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in EPAM Systems by 0.4% in the third quarter. Vanguard Group Inc. now owns 7,014,935 shares of the information technology services provider’s stock valued at $1,057,782,000 after acquiring an additional 29,763 shares in the last quarter. Capital World Investors raised its holdings in EPAM Systems by 59.4% in the 4th quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider’s stock worth $753,874,000 after purchasing an additional 1,371,557 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of EPAM Systems by 28.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,662,843 shares of the information technology services provider’s stock worth $401,532,000 after purchasing an additional 596,760 shares during the period. Boston Partners purchased a new stake in shares of EPAM Systems in the 4th quarter worth about $349,428,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of EPAM Systems by 56.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider’s stock valued at $235,188,000 after purchasing an additional 416,324 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

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.