Morgan Stanley Issues Pessimistic Forecast for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price objective lowered by equities research analysts at Morgan Stanley from $250.00 to $210.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 18.73% from the company’s previous close.

A number of other research analysts have also weighed in on EPAM. Susquehanna reduced their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on EPAM Systems from $275.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Scotiabank dropped their price objective on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Guggenheim lowered their price target on shares of EPAM Systems from $285.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus price target of $230.56.

EPAM Systems Stock Performance

NYSE:EPAM opened at $176.87 on Friday. The company has a market capitalization of $10.09 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.38 and a beta of 1.71. The business has a fifty day simple moving average of $165.80 and a two-hundred day simple moving average of $211.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems has a 1 year low of $138.15 and a 1 year high of $269.00.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, analysts expect that EPAM Systems will post 8.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EPAM. Aurora Investment Counsel lifted its stake in EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after purchasing an additional 45 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of EPAM Systems by 0.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock worth $3,655,000 after buying an additional 52 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 54 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of EPAM Systems by 4.9% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider’s stock valued at $343,000 after acquiring an additional 69 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock valued at $34,000 after acquiring an additional 69 shares during the period. 91.58% of the stock is currently owned by institutional investors.

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.