Guggenheim Cuts EPAM Systems (NYSE:EPAM) Price Target to $210.00

EPAM Systems (NYSE:EPAM - Free Report) had its target price trimmed by Guggenheim from $285.00 to $210.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the information technology services provider's stock.

Several other brokerages have also issued reports on EPAM. Scotiabank lowered their price target 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. Susquehanna dropped their target price on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and issued a $265.00 price target on shares of EPAM Systems in a research note on Thursday, February 20th. Morgan Stanley boosted their price target on EPAM Systems from $230.00 to $256.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group cut their price objective on EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $235.56.

EPAM Systems Stock Down 0.0 %

Shares of EPAM Systems stock traded down $0.03 during trading on Friday, reaching $159.09. The stock had a trading volume of 468,839 shares, compared to its average volume of 692,833. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 3.38 and a beta of 1.69. EPAM Systems has a 52 week low of $138.15 and a 52 week high of $269.00. The stock has a fifty day moving average price of $173.96 and a two-hundred day moving average price of $213.34.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS 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%. Sell-side analysts predict that EPAM Systems will post 8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of EPAM Systems by 35.8% during the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock worth $4,816,000 after purchasing an additional 5,435 shares during the period. Centre Asset Management LLC acquired a new position in EPAM Systems during the fourth quarter worth $8,757,000. Oliver Luxxe Assets LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at $1,889,000. DnB Asset Management AS grew its holdings in shares of EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock valued at $2,629,000 after buying an additional 2,349 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of EPAM Systems during the fourth quarter worth about $245,000. 91.58% of the stock is owned by 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.