EPAM Systems (NYSE:EPAM) Hits New 12-Month Low – Here’s Why

EPAM Systems, Inc. (NYSE:EPAM)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $152.71 and last traded at $154.41, with a volume of 251239 shares changing hands. The stock had previously closed at $169.06.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EPAM. Barclays decreased their target price on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $235.00 to $295.00 in a report on Friday, December 6th. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Finally, Scotiabank dropped their price target on 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.31.

EPAM Systems Stock Performance

The company has a market capitalization of $8.23 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The business has a 50 day moving average of $213.08 and a 200 day moving average of $219.04. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01.

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

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EPAM Systems by 2,500.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 125 shares during the last quarter. TD Private Client Wealth LLC raised its position in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc purchased a new stake in EPAM Systems in the 4th quarter worth about $35,000. Finally, Manchester Capital Management LLC boosted its position in shares of EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 177 shares during the period. 91.58% of the stock is currently owned by 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.