Piper Sandler Lowers EPAM Systems (NYSE:EPAM) Price Target to $317.00

EPAM Systems (NYSE:EPAM) had its price objective trimmed by Piper Sandler from $369.00 to $317.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Other analysts have also issued reports about the company. Jefferies Financial Group reissued a hold rating and set a $295.00 price objective on shares of EPAM Systems in a report on Thursday, January 11th. JPMorgan Chase & Co. boosted their price objective on EPAM Systems from $315.00 to $334.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Citigroup decreased their price objective on EPAM Systems from $325.00 to $275.00 and set a neutral rating for the company in a report on Monday, April 22nd. 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, April 26th. Finally, HSBC decreased their price objective on EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $315.60.

EPAM Systems Stock Up 1.7 %

EPAM stock opened at $242.12 on Thursday. The stock’s 50 day simple moving average is $274.43 and its 200 day simple moving average is $273.66. EPAM Systems has a fifty-two week low of $197.99 and a fifty-two week 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. The company has a market cap of $14.04 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 10.57 and a beta of 1.46.

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 analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business earned $2.71 EPS. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts expect that EPAM Systems will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the 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 filing with the SEC, which is available through the SEC website. In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the 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 filing with the SEC, which is available through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction on 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 sale, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,820 shares of company stock valued at $5,101,117. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mediolanum International Funds Ltd purchased a new position in EPAM Systems during the first quarter valued at approximately $685,000. GSA Capital Partners LLP bought a new stake in EPAM Systems during the first quarter worth about $2,824,000. Central Pacific Bank Trust Division bought a new stake in EPAM Systems during the first quarter worth about $631,000. Whittier Trust Co. bought a new stake in EPAM Systems during the first quarter worth about $64,000. Finally, Daiwa Securities Group Inc. lifted its stake in EPAM Systems by 6.7% during the first quarter. Daiwa Securities Group Inc. now owns 5,663 shares of the information technology services provider’s stock worth $1,564,000 after purchasing an additional 354 shares during the last quarter. 91.58% of the stock is currently 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.