EPAM Systems (NYSE:EPAM) Price Target Cut to $475.00 by Analysts at Susquehanna

EPAM Systems (NYSE:EPAMGet Rating) had its price target decreased by Susquehanna from $496.00 to $475.00 in a research report report published on Friday, The Fly reports. Susquehanna currently has a positive rating on the information technology services provider’s stock.

EPAM has been the subject of a number of other reports. Barclays increased their price objective on shares of EPAM Systems from $410.00 to $485.00 and gave the company an overweight rating in a report on Monday, August 8th. Morgan Stanley lifted their price target on shares of EPAM Systems from $465.00 to $480.00 and gave the company an overweight rating in a report on Monday, August 8th. Susquehanna Bancshares increased their price objective on shares of EPAM Systems from $370.00 to $496.00 and gave the company a positive rating in a report on Tuesday, August 9th. Piper Sandler lifted their target price on EPAM Systems from $381.00 to $460.00 and gave the stock an overweight rating in a report on Friday, August 5th. Finally, Needham & Company LLC boosted their target price on EPAM Systems from $450.00 to $490.00 and gave the stock a buy rating in a research report on Friday, August 5th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $473.33.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $402.07 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.45 and a quick ratio of 3.45. EPAM Systems has a 1 year low of $168.59 and a 1 year high of $725.40. The firm has a fifty day moving average price of $392.13 and a 200-day moving average price of $327.56. The stock has a market cap of $23.07 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 2.57 and a beta of 1.67.

EPAM Systems (NYSE:EPAMGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The information technology services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.67. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. EPAM Systems had a return on equity of 21.72% and a net margin of 8.21%. The business’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. Equities analysts anticipate that EPAM Systems will post 8.37 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Gary C. Abrahams sold 557 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $452.64, for a total value of $252,120.48. Following the completion of the sale, the vice president now directly owns 1,495 shares in the company, valued at $676,696.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Jason D. Peterson sold 1,338 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $440.00, for a total transaction of $588,720.00. Following the transaction, the chief financial officer now owns 11,762 shares of the company’s stock, valued at $5,175,280. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gary C. Abrahams sold 557 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $452.64, for a total value of $252,120.48. Following the sale, the vice president now directly owns 1,495 shares of the company’s stock, valued at $676,696.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,527 shares of company stock valued at $28,901,058. 4.10% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC increased its stake in EPAM Systems by 1.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 2,285 shares of the information technology services provider’s stock worth $674,000 after buying an additional 29 shares during the period. Suncoast Equity Management increased its position in shares of EPAM Systems by 1.7% during the second quarter. Suncoast Equity Management now owns 2,139 shares of the information technology services provider’s stock worth $631,000 after acquiring an additional 35 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,695 shares of the information technology services provider’s stock valued at $1,089,000 after acquiring an additional 40 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of EPAM Systems by 59.7% in the second quarter. Lindbrook Capital LLC now owns 115 shares of the information technology services provider’s stock valued at $34,000 after purchasing an additional 43 shares during the period. Finally, Curi Wealth Management LLC grew its stake in EPAM Systems by 41.8% in the first quarter. Curi Wealth Management LLC now owns 173 shares of the information technology services provider’s stock worth $51,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

About EPAM Systems

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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, and maintenance with private, public, and mobile infrastructures for application, database, network, server, storage, and systems operations management, as well as monitoring, incident notification, and resolution services; and maintenance and support services.

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