EPAM Systems (NYSE:EPAM) Given New $317.00 Price Target at Piper Sandler

EPAM Systems (NYSE:EPAM) had its price objective cut by Piper Sandler from $369.00 to $317.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley upgraded shares of EPAM Systems from an underweight rating to an equal weight rating and cut their price objective for the stock from $236.00 to $225.00 in a report on Friday, April 26th. Susquehanna upped their price target on EPAM Systems from $300.00 to $360.00 and gave the stock a positive rating in a research note on Friday, February 16th. Jefferies Financial Group reiterated a hold rating and set a $295.00 price objective on shares of EPAM Systems in a research note on Thursday, January 11th. Scotiabank cut their target price on EPAM Systems from $350.00 to $300.00 and set a sector outperform rating on the stock in a research note on Monday, April 29th. Finally, Needham & Company LLC raised their price target on EPAM Systems from $295.00 to $350.00 and gave the company a buy rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $315.60.

EPAM Systems Trading Up 1.7 %

Shares of EPAM traded up $3.94 during trading hours on Thursday, reaching $242.12. 347,078 shares of the company traded hands, compared to its average volume of 451,671. EPAM Systems has a 12 month low of $197.99 and a 12 month high of $317.50. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $274.43 and its two-hundred day moving average price is $273.18. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 10.40 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.24. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 EPS. Equities research analysts predict that EPAM Systems will post 7.71 earnings per share for the current fiscal year.

Insider Activity

In other EPAM Systems news, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,770 shares of the company’s stock, valued at $3,857,050.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Balazs Fejes sold 3,470 shares of the company’s stock in a transaction 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 directly owns 13,334 shares in the company, valued at approximately $4,025,934.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $302.04, for a total value of $2,416,320.00. Following the transaction, the senior vice president now owns 12,770 shares in the company, valued at $3,857,050.80. The disclosure for this sale can be found here. Insiders have sold 16,820 shares of company stock valued at $5,101,117 in the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EPAM. Norges Bank bought a new stake in EPAM Systems during the 4th quarter worth approximately $184,713,000. Price T Rowe Associates Inc. MD raised its position in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares during the period. International Assets Investment Management LLC purchased a new position in shares of EPAM Systems during the 4th quarter valued at $663,080,000. TD Asset Management Inc boosted its holdings in EPAM Systems by 317.4% in the 4th quarter. TD Asset Management Inc now owns 263,255 shares of the information technology services provider’s stock worth $78,276,000 after buying an additional 200,181 shares during the period. Finally, Royal Bank of Canada increased its stake in EPAM Systems by 265.7% in the 3rd quarter. Royal Bank of Canada now owns 183,284 shares of the information technology services provider’s stock worth $46,864,000 after buying an additional 133,163 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

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.