EPAM Systems (NYSE:EPAM) Given New $250.00 Price Target at Scotiabank

EPAM Systems (NYSE:EPAM - Get Free Report) had its price target reduced by investment analysts at Scotiabank from $275.00 to $250.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the information technology services provider's stock. Scotiabank's price objective indicates a potential upside of 19.69% from the stock's current price.

Several other research analysts have also recently issued reports on the company. Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the company a "positive" rating in a report on Friday, November 8th. Morgan Stanley boosted their target price 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. Mizuho increased their price target on EPAM Systems from $245.00 to $282.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. StockNews.com downgraded EPAM Systems from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Piper Sandler upped their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of "Moderate Buy" and an average target price of $268.44.

EPAM Systems Price Performance

EPAM stock traded down $4.36 during trading hours on Monday, hitting $208.87. 824,890 shares of the stock traded hands, compared to its average volume of 646,368. The stock has a 50-day simple moving average of $240.81 and a 200 day simple moving average of $222.51. The company has a market cap of $11.85 billion, a P/E ratio of 26.64, a P/E/G ratio of 3.38 and a beta of 1.51. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. 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 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). EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.21 billion. Equities analysts forecast that EPAM Systems will post 8.9 earnings per share for the current year.

Insider Activity at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of the firm's 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 transaction, the chief financial officer now owns 23,382 shares in the company, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Viktar Dvorkin sold 6,758 shares of EPAM Systems stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $256.53, for a total transaction of $1,733,629.74. Following the completion of the sale, the senior vice president now directly owns 13,000 shares of the company's stock, valued at approximately $3,334,890. The trade was a 34.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,300 shares of company stock valued at $2,129,924. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of EPAM Systems in the fourth quarter valued at approximately $173,053,000. William Blair Investment Management LLC acquired a new position in EPAM Systems in the 4th quarter valued at approximately $166,906,000. Ameriprise Financial Inc. boosted its stake in 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 worth $510,053,000 after buying an additional 620,551 shares in the last quarter. Marshall Wace LLP boosted its position in shares of EPAM Systems by 126.4% during 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 acquiring an additional 429,644 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of 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 valued at $538,778,000 after purchasing an additional 414,942 shares during the period. 91.58% of the stock is currently 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.