EPAM Systems (NYSE:EPAM) Given New $275.00 Price Target at Citigroup

EPAM Systems (NYSE:EPAM) had its price target reduced by Citigroup from $325.00 to $275.00 in a report issued on Monday morning, Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

Several other research firms have also issued reports on EPAM. 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. Jefferies Financial Group restated a hold rating and issued a $295.00 price target on shares of EPAM Systems in a research report on Thursday, January 11th. Susquehanna lifted their price objective on shares of EPAM Systems from $300.00 to $360.00 and gave the stock a positive rating in a research report on Friday, February 16th. HSBC lowered their price objective on shares of EPAM Systems from $350.00 to $345.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $315.00 to $334.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, EPAM Systems currently has a consensus rating of Moderate Buy and a consensus price target of $328.00.

EPAM Systems Price Performance

NYSE EPAM opened at $247.20 on Monday. EPAM Systems has a 12 month low of $197.99 and a 12 month high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The firm has a market capitalization of $14.34 billion, a PE ratio of 34.96, a P/E/G ratio of 10.73 and a beta of 1.44. The company’s 50 day simple moving average is $284.87 and its 200 day simple moving average is $273.86.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned $2.71 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts forecast that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Activity at EPAM Systems

In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction 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 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 document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction 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 transaction, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction on 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 transaction, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,820 shares of company stock valued at $5,101,117. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EPAM. Norges Bank bought a new position in EPAM Systems in the 4th quarter worth $184,713,000. Price T Rowe Associates Inc. MD increased its stake in EPAM Systems by 372.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after acquiring an additional 375,439 shares during the period. International Assets Investment Management LLC bought a new stake in EPAM Systems in the fourth quarter valued at about $663,080,000. TD Asset Management Inc increased its stake in 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 boosted its position in 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 valued at $46,864,000 after buying an additional 133,163 shares in the last quarter. Institutional investors 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.