EPAM Systems (NYSE:EPAM) PT Lowered to $311.00

EPAM Systems (NYSE:EPAM) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $331.00 to $311.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 28.45% from the stock’s current price.

Other equities analysts have also issued research 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 objective on the stock in a report on Thursday, January 4th. Barclays cut their price target on EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Citigroup decreased their price objective on EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Piper Sandler cut their target price on EPAM Systems from $369.00 to $317.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Mizuho boosted their price target on EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average target price of $315.60.

EPAM Systems Price Performance

EPAM opened at $242.12 on Thursday. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $274.43 and its 200 day moving average price is $273.18. EPAM Systems has a fifty-two week low of $197.99 and a fifty-two week high of $317.50. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 10.40 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.24. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. As a group, sell-side analysts expect that EPAM Systems will post 7.71 earnings per share for the current year.

Insider Activity

In related news, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the sale, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at $3,707,802. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction dated 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 approximately $4,025,934.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares in the company, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,820 shares of company stock worth $5,101,117. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds have recently made changes to their positions in EPAM. Atria Wealth Solutions Inc. lifted its holdings in shares of EPAM Systems by 3.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock valued at $367,000 after purchasing an additional 40 shares in the last quarter. Equitable Trust Co. boosted its position in EPAM Systems by 0.8% during the 1st quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock worth $1,641,000 after acquiring an additional 46 shares during the period. Czech National Bank grew its stake in EPAM Systems by 0.5% during the 1st quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after acquiring an additional 46 shares in the last quarter. Transatlantique Private Wealth LLC increased its holdings in shares of EPAM Systems by 1.5% in the 3rd quarter. Transatlantique Private Wealth LLC now owns 3,313 shares of the information technology services provider’s stock valued at $841,000 after purchasing an additional 48 shares during the period. Finally, Meridian Management Co. lifted its position in shares of EPAM Systems by 0.6% in the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock worth $2,372,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other 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.