EPAM Systems (NYSE:EPAM) Price Target Cut to $311.00 by Analysts at JPMorgan Chase & Co.

EPAM Systems (NYSE:EPAM) had its price objective trimmed by JPMorgan Chase & Co. from $331.00 to $311.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

A number of other research analysts also recently commented on the stock. Piper Sandler cut their target price on shares of EPAM Systems from $369.00 to $317.00 and set an overweight rating on the stock in a research report on Thursday. Barclays lowered their target price on EPAM Systems from $315.00 to $265.00 and set an equal weight rating for the company in a report on Friday, April 26th. Morgan Stanley upgraded EPAM Systems from an underweight rating to an equal weight rating and cut their price target for the company from $236.00 to $225.00 in a report on Friday, April 26th. Scotiabank decreased their price objective on EPAM Systems from $350.00 to $300.00 and set a sector outperform rating for the company in a research note on Monday, April 29th. Finally, Stifel Nicolaus lifted their target price on EPAM Systems from $288.00 to $301.00 and gave the company a buy rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems has an average rating of Moderate Buy and a consensus price target of $315.60.

EPAM Systems Stock Up 1.7 %

Shares of NYSE EPAM opened at $242.12 on Thursday. EPAM Systems has a 52-week low of $197.99 and a 52-week high of $317.50. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 10.57 and a beta of 1.46. The stock has a 50 day moving average price of $274.43 and a 200 day moving average price of $273.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $2.71 EPS. EPAM Systems’s revenue was down 6.0% on a year-over-year basis. Sell-side analysts expect that EPAM Systems will post 7.7 earnings per share for the current year.

Insider Activity

In related news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the completion of the sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, March 14th. The stock was 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 directly owns 12,770 shares in the company, valued at $3,857,050.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,820 shares of company stock valued at $5,101,117. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Several large investors have recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in EPAM Systems by 0.7% in the fourth quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after buying an additional 51,228 shares in the last quarter. Vanguard Group Inc. raised its holdings in EPAM Systems by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider’s stock worth $2,029,522,000 after purchasing an additional 34,575 shares during the period. Lone Pine Capital LLC boosted its position in EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after purchasing an additional 88,641 shares in the last quarter. Northern Trust Corp grew its holdings in EPAM Systems by 6.2% in the third quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider’s stock valued at $183,243,000 after purchasing an additional 42,077 shares during the period. Finally, Norges Bank purchased a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $184,713,000. 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.