EPAM Systems (NYSE:EPAM) Price Target Lowered to $300.00 at Scotiabank

EPAM Systems (NYSE:EPAM) had its price objective trimmed by Scotiabank from $350.00 to $300.00 in a research note released on Monday, Benzinga reports. The firm currently has a sector outperform rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group restated a hold rating and set a $295.00 price target on shares of EPAM Systems in a report on Thursday, January 11th. Stifel Nicolaus boosted their price target on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a buy rating in a research report on Monday, February 12th. 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 research report on Thursday, January 4th. Needham & Company LLC lifted their price objective on shares of EPAM Systems from $295.00 to $350.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Finally, Mizuho boosted their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the stock a buy rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $320.60.

EPAM Systems Price Performance

EPAM stock opened at $239.21 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. The company’s fifty day moving average price is $280.94 and its 200-day moving average price is $273.73. EPAM Systems has a one year low of $197.99 and a one year high of $317.50. The company has a market capitalization of $13.87 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 10.37 and a beta of 1.44.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In related news, EVP Balazs Fejes sold 3,470 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock worth $5,101,117 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Greenleaf Trust purchased a new stake in shares of EPAM Systems in the 1st quarter worth $200,000. Sage Rhino Capital LLC raised its holdings in shares of EPAM Systems by 16.2% in the first quarter. Sage Rhino Capital LLC now owns 2,127 shares of the information technology services provider’s stock valued at $587,000 after acquiring an additional 296 shares in the last quarter. Equitable Trust Co. lifted its stake in EPAM Systems by 0.8% in the first 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. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in EPAM Systems by 22.6% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 7,583 shares of the information technology services provider’s stock worth $2,094,000 after acquiring an additional 1,400 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in EPAM Systems by 29.1% during the 1st quarter. V Square Quantitative Management LLC now owns 1,068 shares of the information technology services provider’s stock worth $295,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

About EPAM Systems

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.