EPAM Systems (NYSE:EPAM) Shares Gap Down Following Analyst Downgrade

Shares of EPAM Systems, Inc. (NYSE:EPAM) gapped down prior to trading on Thursday after Piper Sandler lowered their price target on the stock from $230.00 to $225.00. The stock had previously closed at $208.17, but opened at $188.22. Piper Sandler currently has an overweight rating on the stock. EPAM Systems shares last traded at $186.68, with a volume of 64,180 shares changing hands.

Other equities analysts have also recently issued reports about the company. Wedbush reissued an “outperform” rating and issued a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Redburn Atlantic began coverage on shares of EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 target price for the company. Scotiabank cut shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $300.00 to $245.00 in a research note on Friday, May 10th. Mizuho dropped their price objective on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. reduced their target price on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $270.00.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently modified their holdings of EPAM. Raymond James Financial Services Advisors Inc. grew its holdings in EPAM Systems by 8.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,233 shares of the information technology services provider’s stock worth $1,259,000 after acquiring an additional 345 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of EPAM Systems by 2.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 10,278 shares of the information technology services provider’s stock worth $3,037,000 after purchasing an additional 246 shares during the period. Nisa Investment Advisors LLC increased its holdings in EPAM Systems by 31.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,481 shares of the information technology services provider’s stock valued at $2,522,000 after purchasing an additional 2,035 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in EPAM Systems by 104.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 98,652 shares of the information technology services provider’s stock valued at $29,333,000 after buying an additional 50,513 shares during the period. Finally, Executive Wealth Management LLC boosted its holdings in EPAM Systems by 4.1% during the fourth quarter. Executive Wealth Management LLC now owns 6,698 shares of the information technology services provider’s stock worth $1,992,000 after buying an additional 263 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45. The company has a 50-day moving average price of $191.01 and a 200-day moving average price of $238.44.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. On average, equities research analysts expect that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

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.