EPAM Systems (NYSE:EPAM) Price Target Cut to $100.00 by Analysts at Citigroup

EPAM Systems (NYSE:EPAM) had its target price trimmed by Citigroup from $112.00 to $100.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group lowered shares of EPAM Systems from a “buy” rating to a “neutral” rating and reduced their price target for the company from $215.00 to $110.00 in a research report on Friday, May 8th. TD Cowen lowered their price objective on EPAM Systems from $170.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Truist Financial dropped their price objective on EPAM Systems from $146.00 to $112.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group cut EPAM Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $130.00 to $110.00 in a research report on Friday, May 29th. Finally, Weiss Ratings lowered EPAM Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EPAM Systems presently has a consensus rating of “Hold” and an average target price of $133.50.

EPAM Systems Price Performance

EPAM stock opened at $94.26 on Monday. The firm has a 50 day moving average of $90.77 and a 200-day moving average of $130.25. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. EPAM Systems has a 12 month low of $73.06 and a 12 month high of $222.53. The firm has a market capitalization of $4.92 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.75 by $0.11. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. EPAM Systems’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that EPAM Systems will post 10.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of EPAM Systems by 59.4% during the 4th quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider’s stock worth $753,874,000 after acquiring an additional 1,371,557 shares during the last quarter. Boston Partners bought a new position in EPAM Systems in the fourth quarter valued at $349,428,000. JPMorgan Chase & Co. raised its position in EPAM Systems by 56.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider’s stock valued at $235,188,000 after purchasing an additional 416,324 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in EPAM Systems by 1.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,072,937 shares of the information technology services provider’s stock valued at $219,823,000 after purchasing an additional 13,768 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in EPAM Systems by 25.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,069,284 shares of the information technology services provider’s stock worth $144,789,000 after purchasing an additional 219,388 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.