Epam Systems Inc. (EPAM) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “
A number of other research firms have also weighed in on EPAM. Cantor Fitzgerald reissued a buy rating and issued a $75.00 price objective on shares of Epam Systems in a research report on Monday, September 12th. Wedbush started coverage on shares of Epam Systems in a research report on Thursday, September 8th. They issued an outperform rating and a $82.00 price objective for the company. Pacific Crest reissued a buy rating and issued a $77.00 price objective on shares of Epam Systems in a research report on Friday, August 5th. Citigroup Inc. reissued a buy rating on shares of Epam Systems in a research report on Saturday, July 9th. Finally, Barclays PLC dropped their price target on shares of Epam Systems from $85.00 to $75.00 and set an equal weight rating for the company in a research report on Thursday, July 7th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $82.18.
Shares of Epam Systems (NYSE:EPAM) traded down 0.59% during mid-day trading on Wednesday, hitting $64.22. The company had a trading volume of 46,013 shares. The firm has a 50-day moving average price of $67.99 and a 200 day moving average price of $70.33. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 34.21 and a beta of 1.22. Epam Systems has a 52-week low of $54.88 and a 52-week high of $84.41.
Epam Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. The firm earned $283.80 million during the quarter, compared to analyst estimates of $281.11 million. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Analysts expect that Epam Systems will post $2.99 earnings per share for the current year.
In other Epam Systems news, insider Anthony J. Conte sold 1,200 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $66.50, for a total value of $79,800.00. Following the completion of the transaction, the insider now directly owns 12,706 shares in the company, valued at $844,949. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.98% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Miles Capital Inc. boosted its stake in Epam Systems by 1.5% in the second quarter. Miles Capital Inc. now owns 3,629 shares of the company’s stock valued at $233,000 after buying an additional 52 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Epam Systems by 1.3% in the first quarter. Prudential Financial Inc. now owns 4,770 shares of the company’s stock valued at $356,000 after buying an additional 60 shares during the last quarter. I.G. Investment Management LTD. raised its position in shares of Epam Systems by 0.6% in the second quarter. I.G. Investment Management LTD. now owns 30,770 shares of the company’s stock valued at $1,979,000 after buying an additional 170 shares during the last quarter. Stifel Financial Corp raised its position in shares of Epam Systems by 5.8% in the second quarter. Stifel Financial Corp now owns 3,400 shares of the company’s stock valued at $220,000 after buying an additional 186 shares during the last quarter. Finally, Axiom International Investors LLC DE raised its position in shares of Epam Systems by 0.9% in the second quarter. Axiom International Investors LLC DE now owns 21,860 shares of the company’s stock valued at $1,406,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 94.13% of the company’s stock.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.
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