EPAM Systems, Inc. (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 analysts have also recently issued research reports about the stock. BidaskClub cut shares of 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 shares of EPAM Systems and gave the company a “buy” rating in a report on Sunday, August 6th. KeyCorp boosted their target price on shares of EPAM Systems from $90.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. UBS AG boosted their target price on shares of EPAM Systems from $89.00 to $96.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Jefferies Group LLC set a $95.00 target price on shares of EPAM Systems and gave the company a “buy” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $92.23.

EPAM Systems (NYSE:EPAM) traded up 0.16% during midday trading on Tuesday, hitting $89.92. 296,245 shares of the stock were exchanged. The stock has a market cap of $4.72 billion, a PE ratio of 43.42 and a beta of 0.99. EPAM Systems has a 1-year low of $54.53 and a 1-year high of $90.50. The company’s 50 day moving average is $84.08 and its 200-day moving average is $81.91.

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, 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 business had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342.00 million. During the same period in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, analysts expect that EPAM Systems will post $3.30 earnings per share for the current year.

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In other EPAM Systems news, SVP Elaina Shekhter sold 500 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arkadiy Dobkin sold 20,000 shares of the stock in a transaction on Monday, October 9th. The stock was 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 have sold a total of 243,000 shares of company stock valued at $20,262,045 over the last quarter. Corporate insiders own 6.17% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EPAM. State of Wisconsin Investment Board increased its stake in shares of EPAM Systems by 28.2% during the second quarter. State of Wisconsin Investment Board now owns 70,490 shares of the information technology services provider’s stock valued at $5,927,000 after buying an additional 15,490 shares during the period. Brighton Jones LLC purchased a new position in EPAM Systems in the second quarter valued at about $484,000. Wellington Management Group LLP grew its stake in EPAM Systems by 30.0% in the first quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock valued at $69,186,000 after purchasing an additional 211,513 shares during the last quarter. 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 purchasing an additional 7,042 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in EPAM Systems in the second quarter valued at about $206,000. Institutional investors and hedge funds own 87.88% 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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Analyst Recommendations for EPAM Systems (NYSE:EPAM)

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