Citigroup Lowers EPAM Systems (NYSE:EPAM) Price Target to $275.00

EPAM Systems (NYSE:EPAM) had its target price reduced by investment analysts at Citigroup from $325.00 to $275.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price objective suggests a potential upside of 11.72% from the stock’s current price.

Several other research firms have also commented on EPAM. Wedbush reiterated an “outperform” rating and set a $340.00 price target on shares of EPAM Systems in a report on Wednesday, April 10th. Mizuho lifted their price target on EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Barclays lifted their price target on EPAM Systems from $305.00 to $315.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 20th. Morgan Stanley reduced their price target on EPAM Systems from $250.00 to $236.00 and set an “underweight” rating on the stock in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of EPAM Systems from $315.00 to $334.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $328.00.

EPAM Systems Price Performance

EPAM Systems stock traded up $0.20 during trading on Monday, reaching $246.16. The company had a trading volume of 45,239 shares, compared to its average volume of 479,242. EPAM Systems has a 1-year low of $197.99 and a 1-year high of $317.50. 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 firm’s 50-day simple moving average is $285.74 and its 200 day simple moving average is $273.80. The firm has a market capitalization of $14.27 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 10.73 and a beta of 1.44.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (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 company 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 posted $2.71 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that EPAM Systems will post 7.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the sale, the executive vice president now directly owns 13,334 shares in the company, valued at $4,025,934.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock worth $5,101,117 over the last three months. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. raised its stake in shares of EPAM Systems by 3.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock worth $367,000 after purchasing an additional 40 shares during the last quarter. Czech National Bank raised its stake in shares of EPAM Systems by 0.5% during the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after purchasing an additional 46 shares during the last quarter. Transatlantique Private Wealth LLC raised its position in EPAM Systems by 1.5% in the third quarter. Transatlantique Private Wealth LLC now owns 3,313 shares of the information technology services provider’s stock worth $841,000 after acquiring an additional 48 shares in the last quarter. Meridian Management Co. raised its position in EPAM Systems by 0.6% in the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock worth $2,372,000 after acquiring an additional 48 shares in the last quarter. Finally, Renaissance Group LLC raised its position in EPAM Systems by 1.1% in the third quarter. Renaissance Group LLC now owns 4,903 shares of the information technology services provider’s stock worth $1,254,000 after acquiring an additional 52 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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.