EPAM Systems (NYSE:EPAM) Price Target Cut to $240.00 by Analysts at Stifel Nicolaus

EPAM Systems (NYSE:EPAM - Get Free Report) had its price objective dropped by analysts at Stifel Nicolaus from $275.00 to $240.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the information technology services provider's stock. Stifel Nicolaus' price objective points to a potential upside of 51.46% from the stock's current price.

Other analysts have also recently issued reports about the stock. Barclays reduced their target price on shares of EPAM Systems from $270.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Jefferies Financial Group decreased 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. StockNews.com downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Scotiabank dropped their price target on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday. Finally, Guggenheim cut their price objective on EPAM Systems from $285.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and an average target price of $232.88.

EPAM Systems Stock Performance

EPAM stock opened at $158.46 on Friday. The company has a market capitalization of $9.04 billion, a P/E ratio of 20.21, a PEG ratio of 3.38 and a beta of 1.71. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $170.63 and a 200 day simple moving average of $212.31. EPAM Systems has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

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

Hedge Funds Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ninety One UK Ltd bought a new position in shares of EPAM Systems during the 1st quarter valued at $186,280,000. Massachusetts Financial Services Co. MA lifted its position in shares of EPAM Systems by 98.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock worth $274,923,000 after buying an additional 809,423 shares during the last quarter. Norges Bank bought a new stake in shares of EPAM Systems during the 4th quarter worth about $173,053,000. William Blair Investment Management LLC acquired a new position in shares of EPAM Systems during the 4th quarter valued at about $166,906,000. Finally, Ameriprise Financial Inc. raised its stake in shares of EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after acquiring an additional 620,551 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.