Guggenheim Has Lowered Expectations for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price objective reduced by equities researchers at Guggenheim from $285.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Guggenheim’s price objective suggests a potential upside of 31.91% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Needham & Company LLC restated a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. Piper Sandler cut EPAM Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $251.00 to $170.00 in a report on Wednesday, April 16th. Finally, Morgan Stanley increased their target price on EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.56.

EPAM Systems Stock Up 0.7 %

Shares of EPAM stock opened at $159.20 on Friday. EPAM Systems has a 52-week low of $138.15 and a 52-week high of $269.00. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.38 and a beta of 1.69. The firm’s 50-day moving average is $175.93 and its 200-day moving average is $213.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96.

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

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors lifted its position in shares of EPAM Systems by 22.0% during the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock worth $538,778,000 after buying an additional 414,942 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after acquiring an additional 620,551 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock worth $314,616,000 after acquiring an additional 37,119 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of EPAM Systems by 96.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after purchasing an additional 401,355 shares in the last quarter. Finally, Marshall Wace LLP increased its position in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock worth $179,944,000 after purchasing an additional 429,644 shares in the last quarter. 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.