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

EPAM Systems (NYSE:EPAM) had its price target decreased by research analysts at Piper Sandler from $317.00 to $252.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the information technology services provider’s stock. Piper Sandler’s target price indicates a potential upside of 38.51% from the company’s previous close.

Several other analysts also recently commented on the company. Jefferies Financial Group reiterated a “hold” rating and set a $295.00 target price on shares of EPAM Systems in a research note on Thursday, January 11th. Guggenheim initiated coverage on EPAM Systems in a research note on Tuesday, March 19th. They set a “buy” rating and a $350.00 target price on the stock. Stifel Nicolaus increased their price target on EPAM Systems from $288.00 to $301.00 and gave the company a “buy” rating in a report on Monday, February 12th. Morgan Stanley raised EPAM Systems from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $236.00 to $225.00 in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. lowered their price target on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $311.27.

EPAM Systems Stock Down 27.0 %

Shares of EPAM Systems stock traded down $67.27 during midday trading on Thursday, hitting $181.93. The company had a trading volume of 4,982,928 shares, compared to its average volume of 549,396. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. The stock has a market capitalization of $10.55 billion, a P/E ratio of 26.01, a P/E/G ratio of 10.58 and a beta of 1.46. The company has a 50 day moving average of $271.04 and a 200 day moving average of $273.78. EPAM Systems has a 52-week low of $180.28 and a 52-week high of $317.50.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 EPS. On average, equities analysts predict that EPAM Systems will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction dated Thursday, March 14th. The stock was 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 in the company, valued at $3,857,050.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the completion of the sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the sale, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,820 shares of company stock worth $5,101,117. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

Several institutional investors and hedge funds have recently modified their holdings of EPAM. Norges Bank bought a new position in EPAM Systems in the fourth quarter worth approximately $184,713,000. Price T Rowe Associates Inc. MD raised its stake in EPAM Systems by 372.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after buying an additional 375,439 shares in the last quarter. International Assets Investment Management LLC bought a new position in EPAM Systems in the fourth quarter worth approximately $663,080,000. TD Asset Management Inc raised its stake in EPAM Systems by 317.4% in the fourth quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock worth $78,276,000 after buying an additional 200,181 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in EPAM Systems by 265.7% in the third quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after buying an additional 133,163 shares in the last quarter. Institutional investors 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.