EPAM Systems (NYSE:EPAM) Given New $270.00 Price Target at Barclays

EPAM Systems (NYSE:EPAM) had its target price cut by Barclays from $290.00 to $270.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other research analysts also recently commented on the stock. Mizuho upped their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a research note on Thursday, February 20th. Jefferies Financial Group dropped their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. 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 research note on Monday, February 24th. Finally, The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.33.

EPAM Systems Trading Down 1.1 %

Shares of EPAM stock opened at $189.32 on Monday. The firm has a 50-day moving average price of $233.93 and a 200 day moving average price of $222.80. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $308.99. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 3.38 and a beta of 1.61. 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 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). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. Research analysts forecast that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aurora Investment Counsel boosted its stake in shares of EPAM Systems by 0.7% during the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider’s stock valued at $1,427,000 after buying an additional 45 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of EPAM Systems by 2.5% during the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of EPAM Systems by 0.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider’s stock valued at $3,655,000 after buying an additional 52 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of EPAM Systems by 21.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.