EPAM Systems (NYSE:EPAM) Price Target Lowered to $250.00 at Scotiabank

EPAM Systems (NYSE:EPAM) had its price objective cut by Scotiabank from $275.00 to $250.00 in a report published on Monday,Benzinga reports. They currently have a sector outperform rating on the information technology services provider’s stock.

Several other brokerages have also issued reports on EPAM. Piper Sandler raised their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays upgraded shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $250.00 to $290.00 in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $268.44.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $213.10 on Monday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $12.09 billion, a PE ratio of 27.18, a PEG ratio of 3.38 and a beta of 1.51. The stock’s 50 day moving average price is $241.57 and its 200-day moving average price is $222.60. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50.

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

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the transaction, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,300 shares of company stock worth $2,129,924 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in EPAM Systems in the fourth quarter valued at approximately $173,053,000. William Blair Investment Management LLC bought a new stake in EPAM Systems during the 4th quarter valued at $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 valued at $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% in 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 shares of EPAM Systems by 22.0% in the fourth 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. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.