EPAM Systems (NYSE:EPAM) Price Target Cut to $270.00 by Analysts at Barclays

EPAM Systems (NYSE:EPAM - Get Free Report) had its price objective cut by stock analysts at Barclays from $290.00 to $270.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the information technology services provider's stock. Barclays's target price suggests a potential upside of 50.45% from the company's current price.

A number of other analysts have also commented on the stock. Morgan Stanley upped their price objective on shares of EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and upped their price target for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Scotiabank lowered their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group reduced their target price on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Finally, Mizuho lifted their price target on EPAM Systems from $245.00 to $282.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $267.33.

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EPAM Systems Price Performance

Shares of NYSE EPAM traded down $9.75 during midday trading on Monday, reaching $179.46. The company's stock had a trading volume of 776,881 shares, compared to its average volume of 679,774. EPAM Systems has a one year low of $169.43 and a one year high of $303.81. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 3.38 and a beta of 1.61. The company has a 50 day moving average price of $233.04 and a 200 day moving average price of $222.56. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.52). The company 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, equities research analysts expect that EPAM Systems will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total transaction of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares in the company, valued at $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors boosted its position in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after purchasing an additional 414,942 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock worth $510,053,000 after buying an additional 620,551 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of EPAM Systems by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after buying an additional 37,119 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of EPAM Systems by 96.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock worth $191,471,000 after buying an additional 401,355 shares during the period. Finally, Marshall Wace LLP grew its stake in EPAM Systems by 126.4% in the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock valued at $179,944,000 after buying an additional 429,644 shares during the last quarter. Institutional investors and hedge funds 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.