EPAM Systems (NYSE:EPAM) Price Target Lowered to $270.00 at Barclays

EPAM Systems (NYSE:EPAM) had its price objective reduced by Barclays from $290.00 to $270.00 in a report issued on Monday,Benzinga reports. Barclays currently has an overweight rating on the information technology services provider’s stock.

A number of other equities analysts also recently issued reports on EPAM. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. The Goldman Sachs Group upgraded shares of EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Morgan Stanley boosted their target price 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. Finally, Mizuho increased their price target on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $267.33.

EPAM Systems Stock Performance

EPAM opened at $190.50 on Monday. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $309.48. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.38 and a beta of 1.61. The company’s fifty day moving average price is $235.66 and its two-hundred day moving average price is $222.89. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced 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 the consensus estimate of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, analysts expect that EPAM Systems will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $256.53, for a total value of $1,733,629.74. Following the sale, the senior vice president now owns 13,000 shares in the company, valued at approximately $3,334,890. This trade represents a 34.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason D. Peterson sold 464 shares of EPAM Systems stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $257.00, for a total value of $119,248.00. Following the sale, the chief financial officer now owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,300 shares of company stock valued at $2,129,924. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in EPAM Systems during the fourth quarter worth about $4,581,000. Challenger Wealth Management purchased a new position in shares of EPAM Systems during the 4th quarter valued at about $351,000. GTS Securities LLC lifted its position in EPAM Systems by 106.5% in the 4th quarter. GTS Securities LLC now owns 864 shares of the information technology services provider’s stock worth $202,000 after buying an additional 14,055 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in EPAM Systems by 53.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 282,360 shares of the information technology services provider’s stock worth $66,021,000 after buying an additional 98,731 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new stake in EPAM Systems in the fourth quarter worth approximately $342,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.