EPAM Systems (EPAM) Rating Lowered to Sell at Zacks Investment Research

EPAM Systems (NYSE:EPAM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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. “

EPAM has been the subject of several other reports. KeyCorp reaffirmed a “buy” rating and issued a $100.00 target price on shares of EPAM Systems in a research report on Sunday, October 29th. UBS Group downgraded EPAM Systems from a “buy” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $110.00 in a research report on Wednesday, November 29th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $92.00 target price on shares of EPAM Systems in a research report on Thursday, November 2nd. Bank of America lifted their target price on EPAM Systems from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Finally, Citigroup lifted their target price on EPAM Systems from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $102.87.

EPAM Systems (NYSE:EPAM) traded up $0.43 during midday trading on Tuesday, reaching $110.46. The company’s stock had a trading volume of 212,681 shares, compared to its average volume of 297,215. The firm has a market cap of $5,800.00, a P/E ratio of 46.81, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.56 and a current ratio of 5.56. EPAM Systems has a 52 week low of $65.13 and a 52 week high of $119.18.

In other news, Director Ronald P. Vargo sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $101.32, for a total transaction of $405,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arkadiy Dobkin sold 19,600 shares of the business’s stock in a transaction dated 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 own 6.17% of the company’s stock.

Several institutional investors have recently made changes to their positions in EPAM. PNC Financial Services Group Inc. lifted 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 purchasing an additional 378 shares during the last quarter. Bank of Montreal Can lifted its stake in EPAM Systems by 113.9% during the fourth quarter. Bank of Montreal Can now owns 1,773 shares of the information technology services provider’s stock worth $190,000 after purchasing an additional 944 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in EPAM Systems during the fourth quarter worth approximately $204,000. Comerica Bank purchased a new stake in EPAM Systems during the fourth quarter worth approximately $225,000. Finally, OppenheimerFunds Inc. purchased a new stake in EPAM Systems during the fourth quarter worth approximately $232,000. 87.65% of the stock is owned by institutional investors and hedge funds.

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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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