EPAM Systems (NYSE:EPAM) Given New $300.00 Price Target at Scotiabank

EPAM Systems (NYSE:EPAM) had its price objective decreased by Scotiabank from $350.00 to $300.00 in a research report released on Monday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the information technology services provider’s stock.

EPAM has been the topic of a number of other research reports. Wedbush reiterated an outperform rating and issued a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. Susquehanna lifted their target price on EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a report on Friday, February 16th. Jefferies Financial Group reiterated a hold rating and issued a $295.00 target price on shares of EPAM Systems in a report on Thursday, January 11th. Wolfe Research upgraded EPAM Systems from a peer perform rating to an outperform rating and set a $355.00 target price on the stock in a report on Thursday, January 4th. Finally, Guggenheim assumed coverage on EPAM Systems in a report on Tuesday, March 19th. They issued a buy rating and a $350.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $315.60.

EPAM Systems Price Performance

EPAM stock opened at $238.18 on Monday. EPAM Systems has a 52-week low of $197.99 and a 52-week high of $317.50. The stock’s fifty day simple moving average is $276.95 and its 200-day simple moving average is $273.45. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $13.81 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 10.26 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data 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 return on equity of 15.53% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. Equities research analysts expect that EPAM Systems will post 7.72 EPS for the current year.

Insider Transactions at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems 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 sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction dated 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 sale, 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 SEC, which can be accessed through this link. Also, 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 value of $1,047,697.10. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 16,820 shares of company stock valued at $5,101,117. 4.30% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

Several hedge funds and other institutional investors have recently bought and sold shares of EPAM. Capital Research Global Investors lifted its position in EPAM Systems by 0.7% in 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. increased its holdings in shares of EPAM Systems by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider’s stock valued at $2,029,522,000 after buying an additional 34,575 shares in the last quarter. Lone Pine Capital LLC increased its holdings in shares of EPAM Systems by 9.2% in the third 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 buying an additional 88,641 shares in the last quarter. Northern Trust Corp increased its holdings in shares of EPAM Systems by 6.2% in the third quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider’s stock valued at $183,243,000 after buying an additional 42,077 shares in the last quarter. Finally, Norges Bank bought a new position in shares of EPAM Systems in the fourth quarter valued at $184,713,000. 91.58% of the stock is 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.