EPAM Systems, Inc. (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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. “

A number of other analysts also recently issued reports on the company. Berenberg Bank set a $95.00 price objective on EPAM Systems and gave the stock a “buy” rating in a research report on Sunday, August 6th. Barclays PLC cut their price objective on EPAM Systems from $92.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 4th. UBS AG raised their price objective on EPAM Systems from $89.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Credit Suisse Group assumed coverage on EPAM Systems in a research report on Tuesday, July 4th. They set an “outperform” rating and a $90.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $90.11.

EPAM Systems (EPAM) traded up 2.86% on Monday, hitting $82.01. 243,977 shares of the stock were exchanged. The firm has a market cap of $4.31 billion, a PE ratio of 39.60 and a beta of 0.99. The stock’s 50 day moving average price is $84.05 and its 200 day moving average price is $78.11. EPAM Systems has a 52-week low of $54.53 and a 52-week high of $87.93.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.18. The firm had revenue of $348.98 million during the quarter, compared to the consensus estimate of $342 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. Equities research analysts forecast that EPAM Systems will post $3.32 earnings per share for the current year.

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In other EPAM Systems news, SVP Balazs Fejes sold 34,234 shares of EPAM Systems stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $84.76, for a total value of $2,901,673.84. Following the completion of the transaction, the senior vice president now directly owns 48,467 shares of the company’s stock, valued at approximately $4,108,062.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Ginger Mosier sold 26,055 shares of EPAM Systems stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.65, for a total value of $2,231,610.75. Following the completion of the transaction, the senior vice president now directly owns 12,733 shares of the company’s stock, valued at $1,090,581.45. The disclosure for this sale can be found here. Insiders own 6.17% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in EPAM Systems by 6.5% in the second quarter. State Street Corp now owns 968,716 shares of the information technology services provider’s stock valued at $81,460,000 after buying an additional 59,511 shares in the last quarter. Macquarie Group Ltd. purchased a new position in EPAM Systems during the second quarter valued at $27,404,000. Fred Alger Management Inc. increased its position in EPAM Systems by 9.2% in the second quarter. Fred Alger Management Inc. now owns 323,134 shares of the information technology services provider’s stock valued at $27,172,000 after buying an additional 27,298 shares in the last quarter. AHL Partners LLP purchased a new position in EPAM Systems during the second quarter valued at $1,766,000. Finally, Goldman Sachs Group Inc. increased its position in EPAM Systems by 58.1% in the second quarter. Goldman Sachs Group Inc. now owns 148,955 shares of the information technology services provider’s stock valued at $12,526,000 after buying an additional 54,713 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

EPAM Systems Company Profile

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.

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