EPAM Systems (NYSE:EPAM) Cut to Underweight at Morgan Stanley

EPAM Systems (NYSE:EPAMGet Free Report) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $250.00 price objective on the information technology services provider’s stock, up from their previous price objective of $235.00. Morgan Stanley’s price target indicates a potential downside of 16.10% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of EPAM Systems from $265.00 to $339.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. HSBC raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Wolfe Research upgraded shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Thursday, January 4th. Citigroup boosted their price objective on shares of EPAM Systems from $250.00 to $312.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Finally, StockNews.com began coverage on shares of EPAM Systems in a report on Thursday, October 5th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $302.14.

Get Our Latest Stock Report on EPAM Systems

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $297.99 on Wednesday. The company has a 50 day moving average of $281.84 and a 200 day moving average of $257.07. The stock has a market cap of $17.19 billion, a P/E ratio of 37.16, a P/E/G ratio of 7.19 and a beta of 1.50. EPAM Systems has a 12 month low of $197.99 and a 12 month high of $385.96. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAMGet Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $2.23 EPS for the quarter, beating the consensus estimate of $2.04 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. EPAM Systems had a net margin of 9.96% and a return on equity of 16.98%. EPAM Systems’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.65 earnings per share. As a group, sell-side analysts forecast that EPAM Systems will post 8.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 600 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $270.00, for a total value of $162,000.00. Following the completion of the transaction, the chief financial officer now directly owns 25,228 shares in the company, valued at approximately $6,811,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Elaina Shekhter sold 8,176 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $257.67, for a total value of $2,106,709.92. Following the sale, the chief marketing officer now directly owns 6,799 shares of the company’s stock, valued at approximately $1,751,898.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason D. Peterson sold 600 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $270.00, for a total transaction of $162,000.00. Following the completion of the sale, the chief financial officer now directly owns 25,228 shares in the company, valued at $6,811,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,676 shares of company stock worth $2,538,710. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of EPAM Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BOKF NA grew its position in shares of EPAM Systems by 0.6% in the 2nd quarter. BOKF NA now owns 7,427 shares of the information technology services provider’s stock worth $1,669,000 after buying an additional 44 shares during the period. Sovereign Financial Group Inc. grew its position in EPAM Systems by 6.0% during the 4th quarter. Sovereign Financial Group Inc. now owns 792 shares of the information technology services provider’s stock valued at $260,000 after purchasing an additional 45 shares during the last quarter. Transatlantique Private Wealth LLC grew its position in EPAM Systems by 1.5% during 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 last quarter. Horizon Investments LLC grew its position in EPAM Systems by 6.2% during the 2nd quarter. Horizon Investments LLC now owns 855 shares of the information technology services provider’s stock valued at $192,000 after purchasing an additional 50 shares during the last quarter. Finally, Renaissance Group LLC grew its position in EPAM Systems by 1.1% during the 3rd quarter. Renaissance Group LLC now owns 4,903 shares of the information technology services provider’s stock valued at $1,254,000 after purchasing an additional 52 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

(Get Free Report)

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, and maintenance with private, public, and infrastructure management for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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