Epam Systems Inc. (EPAM) Rating Lowered to Hold at Zacks Investment Research
Epam Systems Inc. (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
Several other research firms have also recently issued reports on EPAM. Wedbush assumed coverage on Epam Systems in a report on Thursday, September 8th. They issued an “outperform” rating and a $82.00 price target on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $75.00 price target on shares of Epam Systems in a report on Monday, September 12th. Pacific Crest reaffirmed a “buy” rating and issued a $77.00 price target on shares of Epam Systems in a report on Friday, August 5th. Citigroup Inc. reaffirmed a “buy” rating on shares of Epam Systems in a report on Saturday, July 9th. Finally, Barclays PLC dropped their price target on Epam Systems from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $82.18.
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Epam Systems (NYSE:EPAM) traded up 0.05% during mid-day trading on Wednesday, reaching $64.60. The company’s stock had a trading volume of 186,480 shares. Epam Systems has a 52 week low of $54.88 and a 52 week high of $84.41. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 34.42 and a beta of 1.22. The firm has a 50-day moving average of $68.08 and a 200-day moving average of $70.37.
Epam Systems (NYSE:EPAM) last released its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. The firm earned $283.80 million during the quarter, compared to analyst estimates of $281.11 million. Epam Systems had a return on equity of 12.73% and a net margin of 9.46%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. On average, equities research analysts expect that Epam Systems will post $2.99 earnings per share for the current year.
In other news, insider Anthony J. Conte sold 1,200 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $66.50, for a total value of $79,800.00. Following the transaction, the insider now directly owns 12,706 shares of the company’s stock, valued at $844,949. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.98% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased 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 worth $123,000 after buying an additional 1,869 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Epam Systems by 4,246.9% in the first quarter. Lazard Asset Management LLC now owns 2,130 shares of the company’s stock worth $159,000 after buying an additional 2,081 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of Epam Systems by 16.5% in the second quarter. Westpac Banking Corp now owns 3,530 shares of the company’s stock worth $169,000 after buying an additional 499 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Epam Systems by 10.2% in the second quarter. Guggenheim Capital LLC now owns 3,104 shares of the company’s stock worth $200,000 after buying an additional 287 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Epam Systems during the second quarter worth about $210,000. 94.13% of the stock is currently owned by institutional investors and hedge funds.
Epam Systems Company Profile
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.
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