Scotiabank Has Lowered Expectations for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price target dropped by Scotiabank from $275.00 to $250.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the information technology services provider’s stock. Scotiabank’s price objective would suggest a potential upside of 18.71% from the stock’s current price.

EPAM has been the subject of several other research reports. Susquehanna boosted their price objective on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, November 8th. Finally, Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.44.

EPAM Systems Stock Performance

NYSE:EPAM opened at $210.60 on Monday. The business has a 50 day moving average of $242.09 and a 200 day moving average of $222.67. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.38 and a beta of 1.51. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. 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 (NYSE:EPAM) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, sell-side analysts predict that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jason D. Peterson sold 464 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the sale, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,300 shares of company stock valued at $2,129,924 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock valued at $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock valued at $510,053,000 after purchasing an additional 620,551 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of EPAM Systems by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock valued at $314,616,000 after purchasing an additional 37,119 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after purchasing an additional 401,355 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of EPAM Systems by 126.4% during the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after purchasing an additional 429,644 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other 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.