EPAM Systems (NYSE:EPAM) Price Target Cut to $311.00

EPAM Systems (NYSE:EPAM) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $331.00 to $311.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 28.45% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC upped their target price on shares of EPAM Systems from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Wedbush reiterated an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Wolfe Research raised EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 target price for the company in a research note on Thursday, January 4th. Stifel Nicolaus raised their price target on EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Mizuho lifted their price objective on EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.60.

EPAM Systems Stock Up 1.7 %

Shares of EPAM Systems stock opened at $242.12 on Thursday. The business has a fifty day simple moving average of $274.43 and a 200 day simple moving average of $273.18. The stock has a market cap of $14.04 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 10.40 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 12 month low of $197.99 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 earnings per share. Research analysts predict that EPAM Systems will post 7.71 EPS for the current year.

Insiders Place Their Bets

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction 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 directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares in the company, valued at $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the transaction, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last 90 days. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EPAM Systems

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in EPAM Systems by 46.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 214 shares of the information technology services provider’s stock valued at $55,000 after buying an additional 68 shares during the last quarter. Simplicity Solutions LLC acquired a new stake in EPAM Systems during the 3rd quarter worth approximately $212,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in EPAM Systems by 109.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 4,583 shares of the information technology services provider’s stock valued at $1,172,000 after buying an additional 2,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of EPAM Systems by 20.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,189 shares of the information technology services provider’s stock worth $3,628,000 after buying an additional 2,440 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of EPAM Systems by 0.5% in the third quarter. Xponance Inc. now owns 13,449 shares of the information technology services provider’s stock valued at $3,439,000 after acquiring an additional 65 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

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.