Scotiabank Lowers EPAM Systems (NYSE:EPAM) to Sector Perform

EPAM Systems (NYSE:EPAM) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a note issued to investors on Friday, Briefing.com reports. They currently have a $245.00 price target on the information technology services provider’s stock. Scotiabank’s price target indicates a potential upside of 34.67% from the company’s current price.

Several other analysts also recently issued reports on the stock. Barclays reduced 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. Mizuho upped their target price on shares of EPAM Systems from $340.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Jefferies Financial Group reiterated a “hold” rating and set a $295.00 price target on shares of EPAM Systems in a research note on Thursday, January 11th. Stifel Nicolaus increased their price objective on EPAM Systems from $288.00 to $301.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $340.00 target price on shares of EPAM Systems in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.60.

EPAM Systems Stock Performance

EPAM Systems stock opened at $181.93 on Friday. The business has a 50 day moving average of $268.59 and a 200-day moving average of $273.14. EPAM Systems has a 1 year low of $180.28 and a 1 year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.79. The company has a market capitalization of $10.55 billion, a P/E ratio of 25.73, a P/E/G ratio of 10.58 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities research analysts predict that EPAM Systems will post 7.7 earnings per share for the current year.

Insider Activity

In other news, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction dated 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 completion of the sale, the executive vice president now owns 13,334 shares in the company, valued at approximately $4,025,934.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Sergey Yezhkov sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total value of $2,416,320.00. Following the completion of the sale, the senior vice president now owns 12,770 shares in the company, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Balazs Fejes sold 3,470 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 16,820 shares of company stock worth $5,101,117. 4.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EPAM Systems

A number of large investors have recently bought and sold shares of the stock. Blair William & Co. IL increased its stake in shares of EPAM Systems by 26.9% during the first quarter. Blair William & Co. IL now owns 14,457 shares of the information technology services provider’s stock valued at $3,992,000 after buying an additional 3,067 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EPAM Systems by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 68,703 shares of the information technology services provider’s stock valued at $18,973,000 after buying an additional 9,550 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of EPAM Systems by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 61,141 shares of the information technology services provider’s stock valued at $18,281,000 after buying an additional 3,157 shares during the period. TD Asset Management Inc grew its stake in EPAM Systems by 25.7% in the first quarter. TD Asset Management Inc now owns 330,916 shares of the information technology services provider’s stock worth $91,386,000 after purchasing an additional 67,661 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in EPAM Systems by 17.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,790 shares of the information technology services provider’s stock worth $770,000 after purchasing an additional 422 shares during the period. 91.58% of the stock is 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.