Scotiabank Cuts EPAM Systems (NYSE:EPAM) Price Target to $300.00

EPAM Systems (NYSE:EPAM - Free Report) had its price target lowered by Scotiabank from $350.00 to $300.00 in a report released on Monday, Benzinga reports. The brokerage currently has a sector outperform rating on the information technology services provider's stock.

Other research analysts have also issued reports about the company. Mizuho upped their target price on EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a research note on Friday, February 16th. Wedbush restated an outperform rating and issued a $340.00 target price on shares of EPAM Systems in a research note on Wednesday, April 10th. Needham & Company LLC upped their target price on EPAM Systems from $295.00 to $350.00 and gave the company a buy rating in a research note on Thursday, February 15th. HSBC cut their target price on EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus upped their target price on EPAM Systems from $288.00 to $301.00 and gave the company a buy rating in a research note on Monday, February 12th. One research 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. According to data from MarketBeat, EPAM Systems has a consensus rating of Moderate Buy and an average price target of $320.60.

EPAM Systems Stock Performance

Shares of EPAM traded up $1.46 during mid-day trading on Monday, hitting $239.21. The company's stock had a trading volume of 297,762 shares, compared to its average volume of 503,547. EPAM Systems has a one year low of $197.99 and a one year 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 $13.87 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 10.37 and a beta of 1.44. The stock's 50-day moving average is $280.94 and its two-hundred day moving average is $273.73.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.24. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned $2.71 earnings per share. EPAM Systems's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that EPAM Systems will post 7.72 EPS for the current year.

Insider Transactions at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of the stock in a transaction 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 sale, the executive vice president now owns 13,334 shares in the company, valued at $4,025,934.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Lawrence F. Solomon sold 5,350 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $306.00, for a total value of $1,637,100.00. Following the transaction, the senior vice president now owns 12,117 shares in the company, valued at $3,707,802. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Balazs Fejes sold 3,470 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the transaction, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,820 shares of company stock worth $5,101,117. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of EPAM Systems by 0.7% during the fourth quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider's stock worth $2,289,207,000 after purchasing an additional 51,228 shares during the period. Vanguard Group Inc. raised its position in shares of EPAM Systems by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,825,592 shares of the information technology services provider's stock worth $2,029,522,000 after purchasing an additional 34,575 shares during the period. Lone Pine Capital LLC raised its position in shares of EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider's stock worth $269,556,000 after purchasing an additional 88,641 shares during the period. Northern Trust Corp raised its position in shares of EPAM Systems by 6.2% during the third quarter. Northern Trust Corp now owns 716,659 shares of the information technology services provider's stock worth $183,243,000 after purchasing an additional 42,077 shares during the period. Finally, Norges Bank acquired a new stake in shares of EPAM Systems during the fourth quarter worth about $184,713,000. Institutional investors own 91.58% of the company's stock.

EPAM Systems Company Profile

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.