EPAM Systems (NYSE:EPAM) Reaches New 12-Month Low at $189.00

EPAM Systems, Inc. (NYSE:EPAM - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $189.00 and last traded at $189.96, with a volume of 485549 shares changing hands. The stock had previously closed at $249.20.

Analysts Set New Price Targets

EPAM has been the subject of a number of research reports. Piper Sandler dropped their price objective on EPAM Systems from $317.00 to $252.00 and set an "overweight" rating for the company in a research note on Thursday. Scotiabank reduced their price target on shares of EPAM Systems from $350.00 to $300.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 29th. Mizuho raised their price objective on shares of EPAM Systems from $340.00 to $345.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Susquehanna upped their target price on shares of EPAM Systems from $300.00 to $360.00 and gave the stock a "positive" rating in a research note on Friday, February 16th. Finally, Barclays decreased their price target on shares of EPAM Systems from $315.00 to $265.00 and set an "equal weight" rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of "Moderate Buy" and an average target price of $311.27.

EPAM Systems Stock Down 27.0 %

The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 10.58 and a beta of 1.46. The firm has a fifty day moving average price of $268.59 and a 200-day moving average price of $273.14. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.51 by $0.24. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. EPAM Systems's revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 7.7 EPS for the current year.

Insider Transactions at EPAM Systems

In related news, SVP Sergey Yezhkov sold 8,000 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the sale, the senior vice president now directly owns 12,770 shares of the company's stock, valued at approximately $3,857,050.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Balazs Fejes sold 3,470 shares of the business's stock in a transaction dated Monday, February 26th. The shares were 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 of the company's stock, valued at approximately $4,025,934.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Sergey Yezhkov sold 8,000 shares of the business's 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 transaction, 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. Insiders sold 16,820 shares of company stock valued at $5,101,117 over the last 90 days. Corporate insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors increased its position in shares of EPAM Systems by 0.7% during the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider's stock valued at $2,289,207,000 after purchasing an additional 51,228 shares during the period. Vanguard Group Inc. lifted its holdings in shares of EPAM Systems by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider's stock valued at $2,029,522,000 after buying an additional 34,575 shares during the last quarter. Lone Pine Capital LLC grew its stake in shares of EPAM Systems by 9.2% in the 3rd quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider's stock valued at $269,556,000 after buying an additional 88,641 shares in the last quarter. Northern Trust Corp grew its stake in shares of EPAM Systems by 6.2% in the 3rd quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider's stock valued at $183,243,000 after buying an additional 42,077 shares in the last quarter. Finally, Norges Bank acquired a new position in EPAM Systems in the fourth quarter worth approximately $184,713,000. Institutional investors and hedge funds 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.