EPAM Systems (NYSE:EPAM) Price Target Cut to $100.00 by Analysts at Citigroup

EPAM Systems (NYSE:EPAM) had its target price cut by investment analysts at Citigroup from $112.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price target would indicate a potential upside of 6.19% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Susquehanna reduced their price target on EPAM Systems from $199.00 to $167.00 and set a “positive” rating on the stock in a research report on Monday, May 4th. Truist Financial lowered their price target on shares of EPAM Systems from $146.00 to $112.00 and set a “hold” rating for the company in a report on Friday, May 8th. Needham & Company LLC dropped their price target on shares of EPAM Systems from $175.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. TD Cowen reduced their price target on EPAM Systems from $170.00 to $131.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Guggenheim lowered their price target on EPAM Systems from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $133.50.

EPAM Systems Trading Up 4.8%

Shares of EPAM Systems stock traded up $4.32 during trading on Monday, reaching $94.17. The company’s stock had a trading volume of 358,932 shares, compared to its average volume of 1,544,698. EPAM Systems has a 52-week low of $73.06 and a 52-week high of $222.53. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.85 and a beta of 1.43. The firm’s 50-day moving average is $90.89 and its two-hundred day moving average is $131.12. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.05.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.41 EPS. On average, sell-side analysts anticipate that EPAM Systems will post 10.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC bought a new position in EPAM Systems in the fourth quarter worth $218,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of EPAM Systems by 68.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,539 shares of the information technology services provider’s stock worth $1,611,000 after acquiring an additional 3,880 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in EPAM Systems by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 335,150 shares of the information technology services provider’s stock valued at $56,587,000 after acquiring an additional 117,170 shares during the period. United Services Automobile Association purchased a new position in EPAM Systems during the 1st quarter valued at about $229,000. Finally, Empowered Funds LLC boosted its stake in EPAM Systems by 134.1% during the first quarter. Empowered Funds LLC now owns 2,254 shares of the information technology services provider’s stock worth $381,000 after acquiring an additional 1,291 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.