EPAM Systems (NYSE:EPAM) Price Target Cut to $275.00 by Analysts at Citigroup

EPAM Systems (NYSE:EPAM) had its target price decreased by Citigroup from $325.00 to $275.00 in a report released on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the information technology services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. HSBC decreased their target price on shares of EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Wolfe Research raised shares of EPAM Systems from a peer perform rating to an outperform rating and set a $355.00 target price for the company in a research note on Thursday, January 4th. Jefferies Financial Group reissued a hold rating and set a $295.00 target price on shares of EPAM Systems in a research note on Thursday, January 11th. Stifel Nicolaus lifted their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the company a buy rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of EPAM Systems from $315.00 to $334.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $328.00.

EPAM Systems Trading Down 1.2 %

EPAM Systems stock opened at $244.84 on Monday. The company has a 50 day moving average price of $284.37 and a 200 day moving average price of $273.89. EPAM Systems has a 52 week low of $197.99 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.79 and a current ratio of 4.79. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 10.77 and a beta of 1.43.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.24. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. Research analysts forecast that EPAM Systems will post 7.72 EPS for the current year.

Insider Activity

In related news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the sale, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,820 shares of company stock valued at $5,101,117. Insiders own 3.20% of the company’s stock.

Institutional Trading of EPAM Systems

Hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of EPAM Systems in the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new stake in shares of EPAM Systems in the 1st quarter worth approximately $29,000. VisionPoint Advisory Group LLC lifted its position in shares of EPAM Systems by 103.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 69 shares during the period. Lindbrook Capital LLC lifted its position in shares of EPAM Systems by 123.3% in the 3rd quarter. Lindbrook Capital LLC now owns 163 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 90 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of EPAM Systems in the 4th quarter worth approximately $43,000. 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.