EPAM Systems, Inc. (EPAM) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of EPAM Systems, Inc. (NYSE:EPAM) from a buy rating to a hold rating in a research report released on Tuesday.

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. “

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded EPAM Systems from a hold rating to a sell rating in a report on Wednesday, August 30th. Berenberg Bank set a $95.00 target price on EPAM Systems and gave the stock a buy rating in a report on Sunday, August 6th. KeyCorp lifted their target price on EPAM Systems from $90.00 to $94.00 and gave the stock an overweight rating in a report on Wednesday, September 13th. UBS AG lifted their target price on EPAM Systems from $89.00 to $96.00 and gave the stock a buy rating in a report on Friday, August 4th. Finally, Jefferies Group LLC set a $95.00 target price on EPAM Systems and gave the stock a buy rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. EPAM Systems presently has an average rating of Buy and an average price target of $92.23.

EPAM Systems (NYSE:EPAM) opened at 89.92 on Tuesday. EPAM Systems has a 12 month low of $54.53 and a 12 month high of $90.50. The company has a 50 day moving average price of $84.34 and a 200 day moving average price of $82.03. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 43.42 and a beta of 0.99.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The business had revenue of $348.98 million during the quarter, compared to the consensus estimate of $342.00 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that EPAM Systems will post $3.30 earnings per share for the current fiscal year.

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In other EPAM Systems news, SVP Elaina Shekhter sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $89.88, for a total value of $1,797,600.00. The disclosure for this sale can be found here. Insiders sold 243,000 shares of company stock valued at $20,262,045 in the last three months. Insiders own 6.17% of the company’s stock.

A number of institutional investors have recently made changes to their positions in EPAM. First Trust Advisors LP grew its stake in EPAM Systems by 44.5% in the first quarter. First Trust Advisors LP now owns 13,526 shares of the information technology services provider’s stock valued at $1,021,000 after acquiring an additional 4,165 shares during the period. Bank of New York Mellon Corp grew its stake in EPAM Systems by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 215,088 shares of the information technology services provider’s stock valued at $16,244,000 after acquiring an additional 7,042 shares during the period. UBS Asset Management Americas Inc. grew its stake in EPAM Systems by 19.2% in the first quarter. UBS Asset Management Americas Inc. now owns 22,495 shares of the information technology services provider’s stock valued at $1,699,000 after acquiring an additional 3,616 shares during the period. Prudential Financial Inc. grew its stake in EPAM Systems by 24.7% in the first quarter. Prudential Financial Inc. now owns 6,710 shares of the information technology services provider’s stock valued at $507,000 after acquiring an additional 1,330 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in EPAM Systems by 70.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,554 shares of the information technology services provider’s stock valued at $495,000 after acquiring an additional 2,714 shares during the period. 87.88% of the stock is owned by hedge funds and other institutional investors.

About EPAM Systems

EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.

Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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