EPAM Systems (NYSE:EPAM) Given New $288.00 Price Target at Jefferies Financial Group

EPAM Systems (NYSE:EPAM) had its price objective cut by Jefferies Financial Group from $305.00 to $288.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other research analysts also recently weighed in on the company. Citigroup increased their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Piper Sandler lifted 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. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, November 8th. Susquehanna raised their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC raised their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $269.84.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $245.30 on Tuesday. The company has a market capitalization of $13.91 billion, a PE ratio of 31.86, a PEG ratio of 3.49 and a beta of 1.50. The business has a fifty day moving average price of $238.73 and a 200-day moving average price of $214.83. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56.

Insiders Place Their Bets

In other news, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jason D. Peterson sold 464 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total value of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares in the company, valued at approximately $6,263,604. The trade was a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,222 shares of company stock valued at $2,089,878 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of EPAM Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of EPAM. Massachusetts Financial Services Co. MA raised its stake in EPAM Systems by 643.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after acquiring an additional 361,363 shares in the last quarter. Manning & Napier Advisors LLC lifted its holdings in shares of EPAM Systems by 48.8% during the fourth quarter. Manning & Napier Advisors LLC now owns 664,286 shares of the information technology services provider’s stock worth $155,323,000 after purchasing an additional 217,960 shares during the period. Charles Schwab Investment Management Inc. increased its stake in EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares during the period. Citigroup Inc. raised its position in EPAM Systems by 199.5% during the 3rd quarter. Citigroup Inc. now owns 173,721 shares of the information technology services provider’s stock worth $34,576,000 after buying an additional 115,720 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of EPAM Systems in the third quarter valued at about $21,787,000. 91.58% of the stock is currently 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.