Barclays Cuts EPAM Systems (NYSE:EPAM) Price Target to $265.00

EPAM Systems (NYSE:EPAM) had its price target dropped by equities researchers at Barclays from $315.00 to $265.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the information technology services provider’s stock. Barclays‘s target price indicates a potential upside of 11.46% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Guggenheim started coverage on shares of EPAM Systems in a report on Tuesday, March 19th. They issued a “buy” rating and a $350.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $315.00 to $334.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $295.00 price objective on shares of EPAM Systems in a report on Thursday, January 11th. Citigroup cut their price objective on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Finally, HSBC cut their price objective on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.93.

EPAM Systems Trading Up 0.3 %

Shares of EPAM Systems stock opened at $237.75 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The firm has a fifty day moving average price of $280.94 and a 200 day moving average price of $273.37. EPAM Systems has a 1 year low of $197.99 and a 1 year high of $317.50. The stock has a market cap of $13.79 billion, a PE ratio of 33.63, a price-to-earnings-growth ratio of 10.35 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.24. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $2.71 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts predict that EPAM Systems will post 7.72 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the transaction, the senior vice president now directly owns 12,770 shares in the company, valued at $3,857,050.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other EPAM Systems news, SVP Lawrence F. Solomon sold 5,350 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now directly owns 12,117 shares in the company, valued at approximately $3,707,802. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sage Rhino Capital LLC boosted its holdings in EPAM Systems by 16.2% in the 1st quarter. Sage Rhino Capital LLC now owns 2,127 shares of the information technology services provider’s stock valued at $587,000 after purchasing an additional 296 shares during the last quarter. Equitable Trust Co. boosted its holdings in EPAM Systems by 0.8% in the 1st quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock valued at $1,641,000 after purchasing an additional 46 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of EPAM Systems by 22.6% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 7,583 shares of the information technology services provider’s stock valued at $2,094,000 after acquiring an additional 1,400 shares during the period. V Square Quantitative Management LLC boosted its position in shares of EPAM Systems by 29.1% during the 1st quarter. V Square Quantitative Management LLC now owns 1,068 shares of the information technology services provider’s stock worth $295,000 after purchasing an additional 241 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in EPAM Systems by 116.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 169,051 shares of the information technology services provider’s stock valued at $46,685,000 after purchasing an additional 90,895 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.