EPAM Systems (NYSE:EPAM) Shares Down 4.5% - Here's Why

EPAM Systems, Inc. (NYSE:EPAM - Get Free Report) traded down 4.5% on Thursday . The company traded as low as $171.01 and last traded at $172.69. 111,667 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 647,962 shares. The stock had previously closed at $180.87.

Wall Street Analysts Forecast Growth

EPAM has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $265.00 price target on shares of EPAM Systems in a research report on Thursday, February 20th. Morgan Stanley boosted their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. 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. The Goldman Sachs Group upgraded shares of EPAM Systems from a "neutral" rating to a "buy" rating and upped their target price for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Finally, Barclays lowered their price target 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. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.47.

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EPAM Systems Price Performance

The stock's 50 day simple moving average is $226.19 and its 200 day simple moving average is $221.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm has a market capitalization of $10.14 billion, a P/E ratio of 22.74, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data 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). The firm 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%. As a group, analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now directly owns 23,382 shares in the company, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% of the company's stock.

Institutional Trading of EPAM Systems

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 54 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after buying an additional 125 shares in the last quarter. TD Private Client Wealth LLC grew its position in EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after buying an additional 69 shares during the period. Versant Capital Management Inc purchased a new position in EPAM Systems in the fourth quarter valued at $35,000. Finally, Manchester Capital Management LLC raised its position in shares of EPAM Systems by 590.0% in the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after acquiring an additional 177 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

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.