Citigroup Trims EPAM Systems (NYSE:EPAM) Target Price to $275.00

EPAM Systems (NYSE:EPAM) had its price objective decreased by Citigroup from $325.00 to $275.00 in a research note published on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the information technology services provider’s stock.

A number of other research analysts have also recently weighed in on EPAM. Wedbush reissued an outperform rating and set a $340.00 price objective on shares of EPAM Systems in a research note on Wednesday, April 10th. Susquehanna boosted their price target on EPAM Systems from $300.00 to $360.00 and gave the company a positive rating in a report on Friday, February 16th. Stifel Nicolaus boosted their price target on EPAM Systems from $288.00 to $301.00 and gave the company a buy rating in a report on Monday, February 12th. Guggenheim initiated coverage on EPAM Systems in a report on Tuesday, March 19th. They issued a buy rating and a $350.00 price target for the company. Finally, Morgan Stanley cut their price target on EPAM Systems from $250.00 to $236.00 and set an underweight rating for the company in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems presently has an average rating of Moderate Buy and an average target price of $328.00.

EPAM Systems Trading Down 1.2 %

Shares of EPAM opened at $244.84 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The firm has a 50 day simple moving average of $284.37 and a 200-day simple moving average of $273.89. EPAM Systems has a 1-year low of $197.99 and a 1-year high of $317.50. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 10.77 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data 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 net margin of 8.89% and a return on equity of 15.53%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $2.71 EPS. The company’s revenue was down 6.0% on a year-over-year basis. Equities analysts forecast that EPAM Systems will post 7.72 EPS for the current fiscal year.

Insider Activity at EPAM Systems

In related 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 value of $1,047,697.10. Following the completion of the sale, the executive vice president now directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related 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 value of $1,047,697.10. Following the completion of the sale, the executive vice president now directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Lawrence F. Solomon sold 5,350 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the completion of the sale, the senior vice president now owns 12,117 shares of the company’s stock, valued at $3,707,802. The disclosure for this sale can be found here. In the last three months, insiders sold 16,820 shares of company stock worth $5,101,117. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EPAM. Benjamin F. Edwards & Company Inc. purchased a new position in EPAM Systems in the 4th quarter valued at about $25,000. Riverview Trust Co purchased a new position in EPAM Systems in the 1st quarter valued at about $29,000. VisionPoint Advisory Group LLC boosted its position in 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 buying an additional 69 shares during the last quarter. Lindbrook Capital LLC boosted its position 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 valued at $42,000 after buying an additional 90 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in EPAM Systems in the 4th quarter valued at about $43,000. 91.58% of the stock is owned by hedge funds and other 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.