EPAM Systems (NYSE:EPAM) Stock Rating Lowered by Piper Sandler

Piper Sandler cut shares of EPAM Systems (NYSE:EPAM) from an overweight rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports. Piper Sandler currently has $170.00 price objective on the information technology services provider’s stock, down from their previous price objective of $251.00.

Several other analysts also recently issued reports on EPAM. Barclays reduced their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Scotiabank decreased their price target on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group dropped their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley increased their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and a consensus target price of $245.93.

EPAM Systems Price Performance

Shares of EPAM opened at $146.80 on Wednesday. The company’s 50-day moving average is $187.18 and its 200-day moving average is $214.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The firm has a market capitalization of $8.38 billion, a PE ratio of 18.72, a PEG ratio of 3.38 and a beta of 1.69. EPAM Systems has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

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

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EPAM Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of EPAM Systems during the fourth quarter valued at about $173,053,000. William Blair Investment Management LLC bought a new position in EPAM Systems in the 4th quarter valued at approximately $166,906,000. Ameriprise Financial Inc. boosted its position in 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 buying an additional 620,551 shares during the period. Marshall Wace LLP grew its holdings 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 worth $179,944,000 after acquiring an additional 429,644 shares during the last quarter. Finally, Capital World Investors increased its position in EPAM Systems by 22.0% in 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 acquiring an additional 414,942 shares during the period. Institutional investors and hedge funds 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.