Piper Sandler Lowers EPAM Systems (NYSE:EPAM) Price Target to $317.00

EPAM Systems (NYSE:EPAM) had its price objective trimmed by Piper Sandler from $369.00 to $317.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Several other research firms have also recently weighed in on EPAM. Needham & Company LLC increased their price target on EPAM Systems from $295.00 to $350.00 and gave the company a buy rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on EPAM Systems from $315.00 to $334.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Mizuho upped their price objective on EPAM Systems from $340.00 to $345.00 and gave the stock a buy rating in a research note on Friday, February 16th. Wolfe Research upgraded EPAM Systems from a peer perform rating to an outperform rating and set a $355.00 price objective for the company in a research note on Thursday, January 4th. Finally, Citigroup reduced their price objective on EPAM Systems from $325.00 to $275.00 and set a neutral rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $315.60.

EPAM Systems Price Performance

NYSE EPAM opened at $242.12 on Thursday. The business’s fifty day moving average price is $274.43 and its 200-day moving average price is $273.66. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 10.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. EPAM Systems has a 1-year low of $197.99 and a 1-year high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. On average, equities analysts predict that EPAM Systems will post 7.7 earnings per share for the current year.

Insiders Place Their Bets

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EPAM. Benjamin F. Edwards & Company Inc. purchased a new position in shares of EPAM Systems during the fourth quarter valued at about $25,000. Riverview Trust Co purchased a new position in shares of EPAM Systems during the first quarter valued at about $29,000. VisionPoint Advisory Group LLC grew its position in shares of EPAM Systems by 103.0% during the third quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of EPAM Systems by 123.3% during the third quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 90 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of EPAM Systems during the fourth quarter valued at about $43,000. 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.