EPAM Systems (NYSE:EPAM) Shares Gap Down – Here’s What Happened

EPAM Systems, Inc. (NYSE:EPAM) shares gapped down prior to trading on Thursday . The stock had previously closed at $87.70, but opened at $82.00. EPAM Systems shares last traded at $80.8090, with a volume of 318,883 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPAM shares. Truist Financial reduced their target price on EPAM Systems from $146.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group lowered EPAM Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $215.00 to $110.00 in a research report on Friday, May 8th. Jefferies Financial Group lowered EPAM Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $130.00 to $110.00 in a research report on Friday, May 29th. Needham & Company LLC reduced their target price on EPAM Systems from $175.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on EPAM Systems from $215.00 to $183.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, EPAM Systems has an average rating of “Hold” and an average target price of $148.21.

EPAM Systems Stock Down 9.9%

The business has a fifty day moving average price of $107.97 and a two-hundred day moving average price of $154.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.11. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.41 earnings per share. On average, equities analysts expect that EPAM Systems, Inc. will post 10.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EPAM. Brighton Jones LLC acquired a new position in shares of EPAM Systems in the fourth quarter valued at about $218,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of EPAM Systems by 68.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,539 shares of the information technology services provider’s stock valued at $1,611,000 after purchasing an additional 3,880 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of EPAM Systems by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 335,150 shares of the information technology services provider’s stock valued at $56,587,000 after purchasing an additional 117,170 shares during the period. United Services Automobile Association acquired a new position in shares of EPAM Systems in the first quarter valued at about $229,000. Finally, Empowered Funds LLC increased its holdings in shares of EPAM Systems by 134.1% in the first quarter. Empowered Funds LLC now owns 2,254 shares of the information technology services provider’s stock valued at $381,000 after purchasing an additional 1,291 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

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.