EPAM Systems (NYSE:EPAM) Price Target Cut to $317.00 by Analysts at Piper Sandler

EPAM Systems (NYSE:EPAM) had its target price decreased by equities research analysts at Piper Sandler from $369.00 to $317.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 34.91% from the stock’s previous close.

EPAM has been the subject of a number of other reports. Jefferies Financial Group reiterated a “hold” rating and set a $295.00 target price on shares of EPAM Systems in a research report on Thursday, January 11th. Stifel Nicolaus boosted their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Wolfe Research upgraded shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price target on the stock in a research report on Thursday, January 4th. HSBC lowered their price objective on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Scotiabank decreased their price target on EPAM Systems from $350.00 to $300.00 and set a “sector outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $317.13.

EPAM Systems Trading Down 0.1 %

EPAM stock opened at $234.98 on Thursday. EPAM Systems has a 52 week low of $197.99 and a 52 week high of $317.50. The company has a market capitalization of $13.63 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 10.26 and a beta of 1.46. The company’s 50-day simple moving average is $276.95 and its 200 day simple moving average is $273.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. As a group, sell-side analysts anticipate that EPAM Systems will post 7.72 earnings per share for the current year.

Insider Transactions at EPAM Systems

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EPAM. Capital Research Global Investors grew its stake in EPAM Systems by 0.7% during the fourth quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock worth $2,289,207,000 after purchasing an additional 51,228 shares during the period. Vanguard Group Inc. grew its position in shares of EPAM Systems by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider’s stock worth $2,029,522,000 after buying an additional 34,575 shares during the period. Lone Pine Capital LLC increased its stake in shares of EPAM Systems by 9.2% in the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock valued at $269,556,000 after acquiring an additional 88,641 shares in the last quarter. Northern Trust Corp lifted its position in shares of EPAM Systems by 6.2% during the 3rd quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider’s stock valued at $183,243,000 after acquiring an additional 42,077 shares during the period. Finally, Norges Bank bought a new position in EPAM Systems during the fourth quarter worth $184,713,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.