Wells Fargo & Company Cuts EPAM Systems (NYSE:EPAM) Price Target to $125.00

EPAM Systems (NYSE:EPAM) had its target price reduced by equities research analysts at Wells Fargo & Company from $151.00 to $125.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 43.65% from the stock’s current price.

A number of other equities research analysts have also recently commented on EPAM. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of EPAM Systems in a research note on Friday. Susquehanna cut their price objective on shares of EPAM Systems from $199.00 to $167.00 and set a “positive” rating on the stock in a report on Monday, May 4th. The Goldman Sachs Group downgraded shares of EPAM Systems from a “buy” rating to a “neutral” rating and cut their price objective for the company from $215.00 to $110.00 in a report on Friday, May 8th. Citigroup reaffirmed a “cautious” rating on shares of EPAM Systems in a research report on Friday, May 29th. Finally, Morgan Stanley set a $112.00 target price on shares of EPAM Systems in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.50.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $87.02 on Friday. EPAM Systems has a 12-month low of $73.06 and a 12-month high of $222.53. The business’s fifty day simple moving average is $93.97 and its 200-day simple moving average is $140.46. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.55 billion, a PE ratio of 12.48, a PEG ratio of 0.79 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned $2.41 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that EPAM Systems will post 10.42 earnings per share for the current fiscal year.

Institutional Trading of EPAM Systems

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of EPAM Systems by 1,560.4% in the second quarter. Assenagon Asset Management S.A. now owns 292,542 shares of the information technology services provider’s stock valued at $23,213,000 after purchasing an additional 274,923 shares during the period. Byrne Asset Management LLC lifted its holdings in shares of EPAM Systems by 15.1% during the second quarter. Byrne Asset Management LLC now owns 5,215 shares of the information technology services provider’s stock worth $414,000 after purchasing an additional 685 shares during the period. Trust Asset Management LLC acquired a new stake in shares of EPAM Systems during the second quarter worth about $50,000. GK Wealth Management LLC purchased a new stake in EPAM Systems in the second quarter valued at approximately $217,000. Finally, Versant Capital Management Inc boosted its position in EPAM Systems by 179.8% in the second quarter. Versant Capital Management Inc now owns 1,424 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.