Zacks Investment Research lowered shares of Epam Systems Inc. (NYSE:EPAM) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania. “
EPAM has been the subject of a number of other reports. Cantor Fitzgerald reiterated a buy rating and issued a $84.00 target price on shares of Epam Systems in a report on Tuesday, July 5th. Barclays PLC lowered their target price on Epam Systems from $85.00 to $75.00 and set an equal weight rating for the company in a report on Thursday, July 7th. Pacific Crest reiterated a buy rating and issued a $77.00 target price on shares of Epam Systems in a report on Friday, August 5th. Citigroup Inc. reiterated a buy rating on shares of Epam Systems in a report on Saturday, July 9th. Finally, Wedbush assumed coverage on Epam Systems in a report on Thursday, September 8th. They issued an outperform rating and a $82.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $81.19.
Shares of Epam Systems (NYSE:EPAM) opened at 64.63 on Wednesday. Epam Systems has a 12-month low of $54.88 and a 12-month high of $84.41. The firm has a market cap of $3.29 billion, a P/E ratio of 34.43 and a beta of 1.22. The stock has a 50 day moving average price of $67.75 and a 200 day moving average price of $70.11.
Epam Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.02. The business earned $283.80 million during the quarter, compared to the consensus estimate of $281.11 million. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts expect that Epam Systems will post $2.99 earnings per share for the current year.
In other Epam Systems news, insider Anthony J. Conte sold 1,200 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $66.50, for a total value of $79,800.00. Following the transaction, the insider now owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Epam Systems by 5,051.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,906 shares of the company’s stock valued at $123,000 after buying an additional 1,869 shares in the last quarter. Lazard Asset Management LLC boosted its position in Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock valued at $159,000 after buying an additional 2,081 shares in the last quarter. Westpac Banking Corp boosted its position in Epam Systems by 16.5% in the second quarter. Westpac Banking Corp now owns 3,530 shares of the company’s stock valued at $169,000 after buying an additional 499 shares in the last quarter. Guggenheim Capital LLC boosted its position in Epam Systems by 10.2% in the second quarter. Guggenheim Capital LLC now owns 3,104 shares of the company’s stock valued at $200,000 after buying an additional 287 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new position in Epam Systems during the second quarter valued at $210,000. 94.13% of the stock is currently owned by institutional investors and hedge funds.
About Epam Systems
EPAM Systems, Inc (EPAM) is a provider of software engineering solutions and information technology services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services.