EPAM Systems (NYSE:EPAM) Reaches New 12-Month Low – Here’s What Happened

EPAM Systems, Inc. (NYSE:EPAM) hit a new 52-week low on Tuesday . The company traded as low as $73.06 and last traded at $75.8710, with a volume of 2996123 shares changing hands. The stock had previously closed at $76.64.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPAM. The Goldman Sachs Group cut EPAM Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $215.00 to $110.00 in a research note on Friday, May 8th. Needham & Company LLC dropped their target price on shares of EPAM Systems from $175.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Truist Financial reduced their price target on shares of EPAM Systems from $146.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company lowered their price objective on shares of EPAM Systems from $195.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Citigroup reiterated a “cautious” rating on shares of EPAM Systems in a research note on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $148.21.

EPAM Systems Stock Down 1.0%

The firm’s 50-day moving average price is $104.79 and its 200 day moving average price is $151.74. The firm has a market cap of $3.96 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.05.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.11. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. EPAM Systems’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. As a group, research analysts expect that EPAM Systems, Inc. will post 10.42 earnings per share for the current year.

Institutional Investors Weigh In On EPAM Systems

Hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted its position in shares of EPAM Systems by 4,233.3% during the fourth quarter. Sunbelt Securities Inc. now owns 130 shares of the information technology services provider’s stock worth $27,000 after buying an additional 127 shares during the period. Sound Income Strategies LLC increased its position in EPAM Systems by 279.5% in the 4th quarter. Sound Income Strategies LLC now owns 148 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. CYBER HORNET ETFs LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $27,000. 1248 Management LLC bought a new stake in EPAM Systems during the 4th quarter valued at $32,000. Finally, Rothschild Investment LLC grew its stake in shares of EPAM Systems by 51.4% in the fourth quarter. Rothschild Investment LLC now owns 159 shares of the information technology services provider’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

About EPAM Systems

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.