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

EPAM Systems (NYSE:EPAM) had its price target reduced by stock analysts at Scotiabank from $275.00 to $250.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the information technology services provider’s stock. Scotiabank’s target price indicates a potential upside of 19.51% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Mizuho boosted their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their target price 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. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus price target of $268.44.

EPAM Systems Trading Up 0.2 %

Shares of EPAM stock opened at $209.19 on Monday. The stock has a 50 day simple moving average of $243.56 and a 200 day simple moving average of $222.44. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The stock has a market cap of $11.87 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.38 and a beta of 1.51.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share 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 business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts predict that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 464 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total transaction of $119,248.00. Following the completion of the transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This trade represents a 1.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at $3,334,890. This trade represents a 34.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,300 shares of company stock valued at $2,129,924. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EPAM Systems by 2,500.0% during the fourth 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 in the last quarter. TD Private Client Wealth LLC raised its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of EPAM Systems during the fourth quarter worth about $35,000. Finally, Manchester Capital Management LLC raised its position in shares of EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.