BidaskClub Downgrades EPAM Systems, Inc. (EPAM) to Hold
EPAM Systems, Inc. (NYSE:EPAM) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
EPAM has been the topic of a number of other research reports. Cowen and Company reissued a “buy” rating and issued a $95.00 price target on shares of EPAM Systems in a research report on Friday, September 1st. Bank of America Corporation initiated coverage on shares of EPAM Systems in a research report on Tuesday. They issued a “buy” rating and a $95.00 price target on the stock. Credit Suisse Group initiated coverage on shares of EPAM Systems in a research report on Tuesday, July 4th. They issued an “outperform” rating and a $90.00 price target on the stock. Zacks Investment Research lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Barclays PLC lowered their price objective on shares of EPAM Systems from $92.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $91.54.
EPAM Systems (NYSE:EPAM) traded down 1.46% on Friday, reaching $81.80. 732,889 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $82.32 and a 200 day moving average of $80.29. EPAM Systems has a 12 month low of $54.53 and a 12 month high of $87.93. The stock has a market capitalization of $4.30 billion, a PE ratio of 39.50 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. The company had revenue of $348.98 million for the quarter, compared to analyst estimates of $342.00 million. During the same quarter last year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities analysts predict that EPAM Systems will post $3.30 earnings per share for the current fiscal year.
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In other EPAM Systems news, CEO Arkadiy Dobkin sold 5,000 shares of EPAM Systems stock in a transaction on Monday, August 28th. The shares were sold at an average price of $78.86, for a total transaction of $394,300.00. Following the sale, the chief executive officer now owns 2,105,851 shares in the company, valued at $166,067,409.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 192,500 shares of company stock worth $15,876,045. 6.17% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC acquired a new stake in EPAM Systems during the second quarter worth $101,000. Jacobi Capital Management LLC acquired a new stake in EPAM Systems during the second quarter worth $119,000. PNC Financial Services Group Inc. boosted its stake in EPAM Systems by 34.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after buying an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in EPAM Systems by 11.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after buying an additional 166 shares in the last quarter. Finally, US Bancorp DE boosted its stake in EPAM Systems by 1,762.5% during the second quarter. US Bancorp DE now owns 2,086 shares of the information technology services provider’s stock worth $175,000 after buying an additional 1,974 shares in the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.
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.
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