Guggenheim Cuts EPAM Systems (NYSE:EPAM) Price Target to $210.00

EPAM Systems (NYSE:EPAM) had its price objective reduced by Guggenheim from $285.00 to $210.00 in a research report sent to investors on Friday,Benzinga reports. Guggenheim currently has a buy rating on the information technology services provider’s stock.

EPAM has been the subject of several other reports. Scotiabank reduced their target price on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Jefferies Financial Group cut their price target on EPAM Systems from $305.00 to $288.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $265.00 price objective on shares of EPAM Systems in a report on Thursday, February 20th. Finally, Barclays cut their price objective on EPAM Systems from $270.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.56.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $159.20 on Friday. The business has a 50-day moving average price of $175.93 and a two-hundred day moving average price of $213.59. EPAM Systems has a 1-year low of $138.15 and a 1-year high of $269.00. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The company has a market cap of $9.09 billion, a P/E ratio of 20.31, a PEG ratio of 3.38 and a beta of 1.69.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. As a group, analysts anticipate that EPAM Systems will post 8.9 EPS for the current year.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in EPAM Systems by 2,500.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock worth $30,000 after buying an additional 125 shares in the last quarter. TD Private Client Wealth LLC raised its position in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc bought a new position in EPAM Systems during the 4th quarter valued at about $35,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of EPAM Systems during the 1st quarter valued at about $33,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Company Profile

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.