EPAM Systems (NYSE:EPAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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 also recently issued reports on EPAM. Pivotal Research started coverage on EPAM Systems in a report on Tuesday, December 5th. They issued a “buy” rating and a $120.00 price objective on the stock. KeyCorp reiterated a “buy” rating on shares of EPAM Systems in a report on Friday, October 20th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective (up previously from $90.00) on shares of EPAM Systems in a report on Friday, November 3rd. Cowen set a $115.00 price objective on EPAM Systems and gave the company a “buy” rating in a report on Monday, December 11th. Finally, UBS Group reiterated a “buy” rating and issued a $105.00 price objective (up previously from $96.00) on shares of EPAM Systems in a report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. EPAM Systems has a consensus rating of “Buy” and a consensus price target of $102.87.

EPAM Systems (EPAM) traded up $0.74 during mid-day trading on Thursday, hitting $110.40. The company had a trading volume of 252,898 shares, compared to its average volume of 256,837. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a market cap of $5,760.00, a P/E ratio of 46.78, a PEG ratio of 1.69 and a beta of 0.98. EPAM Systems has a 52-week low of $63.32 and a 52-week high of $111.95.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The firm had revenue of $377.50 million for the quarter, compared to the consensus estimate of $368.22 million. EPAM Systems had a return on equity of 15.70% and a net margin of 9.41%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. sell-side analysts expect that EPAM Systems will post 2.68 EPS for the current fiscal year.

In related news, SVP Elaina Shekhter sold 1,261 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $95.00, for a total transaction of $119,795.00. Following the completion of the transaction, the senior vice president now directly owns 10,458 shares of the company’s stock, valued at approximately $993,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arkadiy Dobkin sold 19,600 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $103.21, for a total value of $2,022,916.00. The disclosure for this sale can be found here. Insiders have sold a total of 229,154 shares of company stock valued at $22,580,185 over the last three months. 6.17% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in shares of EPAM Systems during the 2nd quarter worth about $101,000. Jacobi Capital Management LLC acquired a new position in shares of EPAM Systems during the 2nd quarter worth about $119,000. PNC Financial Services Group Inc. boosted its position in shares of EPAM Systems by 34.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,462 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 378 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EPAM Systems by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 166 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of EPAM Systems during the 4th quarter worth about $116,000. 89.15% of the stock is owned by hedge funds and other institutional investors.

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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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