EPAM Systems (NYSE:EPAM) Given New $275.00 Price Target at Citigroup

EPAM Systems (NYSE:EPAM) had its price target decreased by stock analysts at Citigroup from $325.00 to $275.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price objective indicates a potential upside of 10.95% from the stock’s current price.

Other analysts also recently issued reports about the company. HSBC reduced their target price on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Guggenheim began coverage on EPAM Systems in a research note on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price objective for the company. Needham & Company LLC raised their target price on shares of EPAM Systems from $295.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. 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. Finally, Morgan Stanley lowered their price objective on shares of EPAM Systems from $250.00 to $236.00 and set an “underweight” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.00.

EPAM Systems Trading Up 0.4 %

EPAM opened at $247.86 on Monday. The business’s 50-day simple moving average is $284.37 and its 200-day simple moving average is $273.89. The company has a market cap of $14.37 billion, a P/E ratio of 35.06, a PEG ratio of 10.73 and a beta of 1.44. EPAM Systems has a one year low of $197.99 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.24. The business 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 company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.71 EPS. As a group, equities research analysts expect that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Activity

In other news, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 12,770 shares in the company, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Insiders sold 16,820 shares of company stock valued at $5,101,117 in the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in EPAM Systems in the 4th quarter valued at approximately $25,000. Riverview Trust Co acquired a new position in shares of EPAM Systems in the first quarter worth $29,000. VisionPoint Advisory Group LLC lifted its position in shares of EPAM Systems by 103.0% in the third quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of EPAM Systems during the fourth quarter valued at $43,000. Finally, Lindbrook Capital LLC increased its position in EPAM Systems by 123.3% during the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.