Zacks Investment Research Lowers Epam Systems Inc. (EPAM) to Hold
Epam Systems Inc. (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 topic of a number of other research reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Epam Systems in a report on Tuesday, July 5th. Barclays PLC lowered their price objective 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. Pacific Crest reaffirmed a “buy” rating and issued a $77.00 price objective 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, Wedbush assumed coverage on Epam Systems in a report on Thursday, September 8th. They issued an “outperform” rating and a $82.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Epam Systems presently has a consensus rating of “Buy” and an average target price of $82.18.
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Epam Systems (NYSE:EPAM) traded up 0.05% during midday trading on Wednesday, hitting $64.60. The company 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 cap of $3.29 billion, a PE ratio of 34.42 and a beta of 1.22. The stock’s 50-day moving average price is $68.08 and its 200-day moving average price is $70.37.
Epam Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The company earned $283.80 million during the quarter, compared to analyst estimates of $281.11 million. Epam Systems had a net margin of 9.46% and a return on equity of 12.73%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, equities research analysts expect that Epam Systems will post $2.99 EPS for the current fiscal year.
In related news, insider Anthony J. Conte sold 1,200 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 12,706 shares of the company’s stock, valued at approximately $844,949. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.98% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of 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 during the period. Lazard Asset Management LLC increased its position 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 valued at $159,000 after buying an additional 2,081 shares during the period. Guggenheim Capital LLC increased its position 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 valued at $200,000 after buying an additional 287 shares during the period. BlackRock Inc. increased its position in shares of Epam Systems by 129.9% in the first quarter. BlackRock Inc. now owns 3,235 shares of the company’s stock valued at $241,000 after buying an additional 1,828 shares during the period. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Epam Systems during the second quarter valued at $210,000. Institutional investors own 94.13% of the company’s stock.
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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