Scotiabank Trims EPAM Systems (NYSE:EPAM) Target Price to $300.00

EPAM Systems (NYSE:EPAM) had its price objective lowered by Scotiabank from $350.00 to $300.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the information technology services provider’s stock.

Several other research analysts have also recently commented on the company. Stifel Nicolaus boosted their price target on EPAM Systems from $288.00 to $301.00 and gave the stock a buy rating in a research note on Monday, February 12th. Guggenheim assumed coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They issued a buy rating and a $350.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of EPAM Systems from $315.00 to $334.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Barclays decreased their price objective on EPAM Systems from $315.00 to $265.00 and set an equal weight rating for the company in a report on Friday. Finally, Needham & Company LLC boosted their price target 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $320.60.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $239.21 on Monday. 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 has a twelve month low of $197.99 and a twelve month high of $317.50. The stock has a market capitalization of $13.87 billion, a P/E ratio of 33.83, a PEG ratio of 10.37 and a beta of 1.44. The business’s fifty day moving average price is $280.94 and its 200 day moving average price is $273.73.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The firm 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 firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 EPS. As a group, research analysts anticipate that EPAM Systems will post 7.72 earnings per share for the current year.

Insider Activity at EPAM Systems

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

Hedge Funds Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. bought a new position in EPAM Systems during the fourth quarter valued at about $25,000. Riverview Trust Co acquired a new position in shares of EPAM Systems during the 1st quarter valued at about $29,000. VisionPoint Advisory Group LLC raised its stake in shares of EPAM Systems by 103.0% in the 3rd 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. Lindbrook Capital LLC lifted its holdings in EPAM Systems by 123.3% in 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 during the last quarter. Finally, Principal Securities Inc. bought a new stake in EPAM Systems during the fourth quarter worth approximately $43,000. 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.