EPAM Systems (NYSE:EPAM) Stock Price Down 4.5% – What’s Next?

EPAM Systems, Inc. (NYSE:EPAM)’s share price traded down 4.5% during trading on Thursday . The company traded as low as $171.01 and last traded at $172.69. 111,667 shares were traded 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.

Analyst Ratings Changes

EPAM has been the topic of several recent analyst reports. The Goldman Sachs Group raised EPAM Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $235.00 to $295.00 in a research report on Friday, December 6th. Scotiabank decreased their price objective on shares of EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a report on Monday, February 24th. Morgan Stanley raised their target price on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. 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. Finally, Jefferies Financial Group dropped their target price on EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.47.

EPAM Systems Price Performance

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’s fifty day simple moving average is $228.32 and its 200 day simple moving average is $221.97. The firm has a market cap of $9.85 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.38 and a beta of 1.61.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 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 business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,078 shares of the stock in a transaction on Monday, January 27th. The stock was 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 owns 23,382 shares in the company, valued at approximately $6,009,174. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position 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 valued at $30,000 after acquiring an additional 125 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in EPAM Systems by 88.5% in 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 acquiring an additional 69 shares during the period. Versant Capital Management Inc purchased a new stake in EPAM Systems in the 4th quarter worth approximately $35,000. Finally, Manchester Capital Management LLC grew its position in EPAM Systems by 590.0% during the fourth quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 177 shares during the period. 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.