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

EPAM Systems (NYSE:EPAM - Free Report) had its price target reduced by Guggenheim from $285.00 to $210.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the information technology services provider's stock.

EPAM has been the topic of a number of other research reports. Jefferies Financial Group decreased their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective 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. Barclays cut their target price on EPAM Systems from $270.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Scotiabank dropped their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating for the company in a report on Monday, February 24th. Finally, Piper Sandler downgraded EPAM Systems from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $251.00 to $170.00 in a research report on Wednesday, April 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $232.44.

EPAM Systems Trading Down 2.4 %

Shares of EPAM traded down $3.86 during midday trading on Friday, hitting $155.98. The stock had a trading volume of 278,711 shares, compared to its average volume of 692,134. EPAM Systems has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The stock's 50 day moving average is $172.65 and its 200 day moving average is $212.97. The firm has a market cap of $8.90 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69.

EPAM Systems (NYSE:EPAM - Get Free Report) 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 analysts' expectations of $1.21 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. As a group, analysts forecast that EPAM Systems will post 8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after buying an additional 125 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of EPAM Systems during the first quarter valued at $33,000. TD Private Client Wealth LLC increased its stake in EPAM Systems by 88.5% during the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after buying an additional 69 shares during the period. Finally, Versant Capital Management Inc bought a new stake in shares of EPAM Systems during the 4th quarter worth about $35,000. 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.