EPAM Systems (NYSE:EPAM) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of EPAM Systems (NYSE:EPAM - Free Report) from an overweight rating to a neutral rating in a report published on Wednesday, MarketBeat Ratings reports. The brokerage currently has $170.00 price target on the information technology services provider's stock, down from their prior price target of $251.00.

A number of other equities research analysts have also commented on EPAM. Jefferies Financial Group decreased their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. StockNews.com downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Scotiabank lowered their target price on shares of EPAM Systems from $275.00 to $250.00 and set a "sector outperform" rating on the stock in a research note on Monday, February 24th. Barclays decreased their target price on EPAM Systems from $290.00 to $270.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.93.

EPAM Systems Price Performance

Shares of EPAM traded down $2.27 during mid-day trading on Wednesday, hitting $144.89. The company's stock had a trading volume of 100,521 shares, compared to its average volume of 698,172. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The firm has a 50-day moving average price of $187.18 and a 200 day moving average price of $215.06. EPAM Systems has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.38 and a beta of 1.69.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, research analysts predict that EPAM Systems will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value 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 trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On EPAM Systems

Large investors have recently modified their holdings of the business. Norges Bank bought a new position in EPAM Systems during the fourth quarter worth $173,053,000. William Blair Investment Management LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth about $166,906,000. Ameriprise Financial Inc. boosted its position in shares of EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after buying an additional 620,551 shares during the last quarter. Marshall Wace LLP boosted its holdings in EPAM Systems by 126.4% during the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after purchasing an additional 429,644 shares during the last quarter. Finally, Capital World Investors grew its position in EPAM Systems by 22.0% in the 4th 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 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.