EPAM Systems (NYSE:EPAM) Cut to “Hold” at StockNews.com

StockNews.com cut shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a report published on Friday morning.

EPAM has been the topic of a number of other reports. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, November 8th. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Piper Sandler upped their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $235.00 to $295.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a report on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and an average price target of $269.83.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $208.98 on Friday. The stock has a market capitalization of $11.85 billion, a P/E ratio of 27.14, a P/E/G ratio of 3.88 and a beta of 1.51. The firm’s 50-day moving average price is $243.56 and its two-hundred day moving average price is $222.23. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. As a group, sell-side analysts forecast that EPAM Systems will post 8.59 earnings per share for the current year.

Insider Buying and Selling at EPAM Systems

In other news, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This represents a 34.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares in the company, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,300 shares of company stock worth $2,129,924 over the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aurora Investment Counsel raised its position in EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock worth $1,427,000 after purchasing an additional 45 shares in the last quarter. Metis Global Partners LLC boosted its holdings in EPAM Systems by 2.5% during the third quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after purchasing an additional 50 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of EPAM Systems by 0.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock valued at $3,655,000 after purchasing an additional 52 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock worth $27,000 after buying an additional 54 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of EPAM Systems by 21.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock worth $65,000 after buying an additional 57 shares during the period. 91.58% of the stock is owned by institutional investors.

EPAM Systems Company Profile

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.