EPAM Systems (NYSE:EPAM) Given New $252.00 Price Target at Piper Sandler

EPAM Systems (NYSE:EPAM) had its price objective cut by Piper Sandler from $317.00 to $252.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s price target indicates a potential upside of 38.51% from the company’s previous close.

A number of other research firms have also recently issued reports on EPAM. Barclays reduced their target price on shares of EPAM Systems from $315.00 to $265.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Needham & Company LLC lifted their target price on shares of EPAM Systems from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Mizuho lifted their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Morgan Stanley raised shares of EPAM Systems from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $236.00 to $225.00 in a research report on Friday, April 26th. Finally, Scotiabank dropped their price target on shares of EPAM Systems from $350.00 to $300.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $311.27.

EPAM Systems Trading Down 27.0 %

Shares of EPAM traded down $67.27 during midday trading on Thursday, hitting $181.93. The stock had a trading volume of 4,982,928 shares, compared to its average volume of 549,396. EPAM Systems has a fifty-two week low of $180.28 and a fifty-two week high of $317.50. The business has a 50-day simple moving average of $271.04 and a two-hundred day simple moving average of $273.78. The firm has a market cap of $10.55 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 10.58 and a beta of 1.46. 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 announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company posted $2.71 earnings per share. As a group, equities analysts forecast that EPAM Systems will post 7.7 EPS for the current year.

Insider Buying and Selling at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the sale, the senior vice president now owns 12,117 shares in the company, valued at approximately $3,707,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the transaction, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. lifted its position in EPAM Systems by 3.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,235 shares of the information technology services provider’s stock worth $367,000 after buying an additional 40 shares in the last quarter. Equitable Trust Co. raised its holdings in EPAM Systems by 0.8% during the 1st quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock worth $1,641,000 after purchasing an additional 46 shares during the last quarter. Czech National Bank raised its holdings in EPAM Systems by 0.5% during the 1st quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after purchasing an additional 46 shares during the last quarter. Transatlantique Private Wealth LLC raised its holdings in EPAM Systems by 1.5% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 3,313 shares of the information technology services provider’s stock worth $841,000 after purchasing an additional 48 shares during the last quarter. Finally, Meridian Management Co. raised its holdings in EPAM Systems by 0.6% during the 4th quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock worth $2,372,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.