EPAM Systems (NYSE:EPAM) Price Target Lowered to $250.00 at Scotiabank

EPAM Systems (NYSE:EPAM) had its price objective decreased by equities research analysts at Scotiabank from $275.00 to $250.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the information technology services provider’s stock. Scotiabank’s price target would suggest a potential upside of 18.71% from the company’s previous close.

A number of other brokerages have also recently commented on EPAM. Citigroup upped their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group cut their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Barclays upgraded EPAM Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.44.

EPAM Systems Stock Performance

Shares of EPAM opened at $210.60 on Monday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $242.09 and a two-hundred day simple moving average of $222.67. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 3.38 and a beta of 1.51. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. On average, analysts expect that EPAM Systems will post 8.9 EPS for the current year.

Insider Activity

In related news, SVP Viktar Dvorkin sold 6,758 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company’s stock, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,300 shares of company stock valued at $2,129,924 in the last ninety days. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently modified their holdings of EPAM. Norges Bank bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $173,053,000. William Blair Investment Management LLC bought a new stake in shares of EPAM Systems during the 4th quarter worth approximately $166,906,000. Ameriprise Financial Inc. lifted its stake in shares of EPAM Systems by 39.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after acquiring an additional 620,551 shares during the last quarter. Marshall Wace LLP raised its position in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after purchasing an additional 429,644 shares in the last quarter. Finally, Capital World Investors raised its position in EPAM Systems by 22.0% during the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock valued at $538,778,000 after purchasing an additional 414,942 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

About EPAM Systems

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.