Citigroup Cuts EPAM Systems (NYSE:EPAM) Price Target to $100.00

EPAM Systems (NYSE:EPAM) had its target price trimmed by Citigroup from $112.00 to $100.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

EPAM has been the subject of a number of other reports. Wedbush began coverage on shares of EPAM Systems in a research report on Monday, June 15th. They set a “neutral” rating and a $99.00 price target for the company. Jefferies Financial Group lowered EPAM Systems from a “buy” rating to a “hold” rating and dropped their price objective for the company from $130.00 to $110.00 in a research note on Friday, May 29th. Needham & Company LLC reduced their target price on EPAM Systems from $175.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. TD Cowen decreased their target price on EPAM Systems from $170.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Truist Financial lowered their price target on EPAM Systems from $146.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $133.50.

EPAM Systems Price Performance

EPAM stock opened at $107.26 on Monday. The firm has a 50 day moving average of $90.83 and a 200-day moving average of $128.62. The firm has a market capitalization of $5.60 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. EPAM Systems has a 12 month low of $73.06 and a 12 month high of $222.53. 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 (NYSE:EPAM) last posted its earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. EPAM Systems’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that EPAM Systems will post 10.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EPAM Systems

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its stake in EPAM Systems by 4,233.3% in the fourth quarter. Sunbelt Securities Inc. now owns 130 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 127 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of EPAM Systems during the second quarter valued at about $27,000. MUFG Securities EMEA plc purchased a new position in shares of EPAM Systems in the second quarter worth about $30,000. Sound Income Strategies LLC increased its holdings in shares of EPAM Systems by 279.5% in the fourth quarter. Sound Income Strategies LLC now owns 148 shares of the information technology services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Finally, 1248 Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter valued at about $32,000. Hedge funds and other 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.