Scotiabank Cuts EPAM Systems (NYSE:EPAM) Price Target to $250.00

EPAM Systems (NYSE:EPAM) had its target price lowered by Scotiabank from $275.00 to $250.00 in a report released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the information technology services provider’s stock.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group dropped their target price on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $265.00 price target on shares of EPAM Systems in a report on Thursday, February 20th. Morgan Stanley raised their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, November 8th. Finally, Barclays upgraded shares of EPAM Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $250.00 to $290.00 in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $268.44.

EPAM Systems Stock Performance

Shares of NYSE:EPAM opened at $213.10 on Monday. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The company’s 50 day moving average price is $241.57 and its two-hundred day moving average price is $222.60. The firm has a market cap of $12.09 billion, a PE ratio of 27.18, a PEG ratio of 3.38 and a beta of 1.51.

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

Insider Transactions at EPAM Systems

In related news, CFO Jason D. Peterson sold 464 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $257.00, for a total transaction of $119,248.00. Following the transaction, the chief financial officer now directly owns 24,372 shares of the company’s stock, valued at approximately $6,263,604. This represents a 1.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Viktar Dvorkin sold 6,758 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 13,000 shares in the company, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,300 shares of company stock valued at $2,129,924. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

Institutional investors have recently modified their holdings of the company. Challenger Wealth Management bought a new stake in EPAM Systems during the 4th quarter valued at $351,000. GTS Securities LLC increased its position in shares of EPAM Systems by 106.5% during the fourth quarter. GTS Securities LLC now owns 864 shares of the information technology services provider’s stock worth $202,000 after acquiring an additional 14,055 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of 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 acquiring an additional 98,731 shares during the last quarter. PharVision Advisers LLC bought a new position in EPAM Systems in the 4th quarter valued at about $342,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in EPAM Systems by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,067 shares of the information technology services provider’s stock valued at $81,151,000 after purchasing an additional 51,410 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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.