Scotiabank Issues Pessimistic Forecast for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its target price reduced by equities research analysts at Scotiabank from $275.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the information technology services provider’s stock. Scotiabank’s price target points to a potential upside of 19.51% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, November 8th. Barclays raised EPAM Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $250.00 to $290.00 in a research report on Tuesday, December 17th. Citigroup upped their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group reduced their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Susquehanna boosted their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $268.44.

EPAM Systems Price Performance

EPAM stock opened at $209.19 on Monday. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.38 and a beta of 1.51. The firm has a 50 day moving average of $243.56 and a 200-day moving average of $222.44. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts expect that EPAM Systems will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the sale, the senior vice president now directly owns 13,000 shares in the company, valued at approximately $3,334,890. This represents a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,300 shares of company stock valued at $2,129,924. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently modified their holdings of EPAM. Creative Planning lifted its stake in shares of EPAM Systems by 100.8% during the third quarter. Creative Planning now owns 7,178 shares of the information technology services provider’s stock valued at $1,429,000 after acquiring an additional 3,604 shares during the period. Raymond James & Associates grew its stake in shares of EPAM Systems by 1,741.1% during the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after purchasing an additional 34,701 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in EPAM Systems by 251.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after acquiring an additional 13,690 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of EPAM Systems in the third quarter valued at approximately $21,787,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of EPAM Systems by 53.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,766 shares of the information technology services provider’s stock worth $951,000 after acquiring an additional 1,662 shares during the period. 91.58% of the stock is owned by institutional investors.

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.