EPAM Systems (NYSE:EPAM) PT Lowered to $300.00 at Scotiabank

EPAM Systems (NYSE:EPAM) had its price objective cut by investment analysts at Scotiabank from $350.00 to $300.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the information technology services provider’s stock. Scotiabank’s target price would indicate a potential upside of 25.36% from the company’s previous close.

EPAM has been the subject of several other research reports. Wolfe Research upgraded shares of EPAM Systems from a “peer perform” rating to an “outperform” rating and set a $355.00 price target for the company in a research report on Thursday, January 4th. Guggenheim began coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a report on Monday, February 12th. Jefferies Financial Group restated a “hold” rating and set a $295.00 price target on shares of EPAM Systems in a report on Thursday, January 11th. Finally, Citigroup cut their price target on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.60.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded up $1.57 on Monday, hitting $239.32. 154,818 shares of the company were exchanged, compared to its average volume of 501,705. The firm has a market capitalization of $13.88 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 10.37 and a beta of 1.44. The stock’s 50 day moving average price is $280.94 and its 200 day moving average price is $273.73. EPAM Systems has a 1-year low of $197.99 and a 1-year high of $317.50. The company has a current ratio of 4.79, a quick ratio of 4.79 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results 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 net margin of 8.89% and a return on equity of 15.53%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Sell-side analysts predict that EPAM Systems will post 7.72 EPS for the current year.

Insider Buying and Selling

In related news, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the transaction, the senior vice president now owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lawrence F. Solomon sold 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total transaction of $1,637,100.00. Following the completion of the transaction, the senior vice president now directly owns 12,117 shares of the company’s stock, valued at approximately $3,707,802. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,820 shares of company stock valued at $5,101,117. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors L.P. raised its holdings in shares of EPAM Systems by 5.1% in the 3rd quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock valued at $7,210,000 after purchasing an additional 1,370 shares in the last quarter. Lone Pine Capital LLC raised its stake in EPAM Systems by 9.2% during the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after acquiring an additional 88,641 shares in the last quarter. TD Asset Management Inc raised its stake in EPAM Systems by 2.5% during the 3rd quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock worth $16,127,000 after acquiring an additional 1,558 shares in the last quarter. Flossbach Von Storch AG raised its stake in EPAM Systems by 46.7% during the 4th quarter. Flossbach Von Storch AG now owns 11,000 shares of the information technology services provider’s stock worth $3,271,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in EPAM Systems in the third quarter valued at $13,402,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.