Cowen Lowers EPAM Systems (NYSE:EPAM) Price Target to $400.00

EPAM Systems (NYSE: EPAM – Get an Assessment) had its price target reduced by Cowen equity researchers to $400.00 in a research note released Friday to investors, Stock Target Advisor reports. Cowen’s price target suggests a potential upside of 23.72% from the current stock price.

A number of other research analysts also commented on the headline. Susquehanna Bancshares upgraded shares of EPAM Systems to a “positive” rating in a Monday May 16 research report. Wolfe Research upgraded shares of EPAM Systems from a “peer performance” rating to an “outperform” rating and set a price target of $390.00 for the company in a research report from the Monday April 11. Wedbush raised its price target on EPAM Systems stock from $380.00 to $400.00 and gave the stock an “outperform” rating in a Monday, June 6 research report. Barclays raised its price target on EPAM Systems shares from $350.00 to $410.00 in a Monday May 9 research report. Finally, StockNews.com launched coverage on EPAM Systems shares in a research report on Thursday, March 31. They issued a “hold” rating for the company. One analyst rated the stock with a hold rating and thirteen gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $431.50.

EPAM Systems stock performance

EPAM stock traded at $7.62 at midday on Friday, hitting $323.30. 289,933 shares of the stock have traded, compared to its average volume of 1,015,372. The company has a quick ratio of 3.32, a current ratio of 3.32 and a leverage ratio of 0.01 . EPAM Systems has a 52 week low of $168.59 and a 52 week high of $725.40. The company has a 50-day moving average of $314.33 and a two-hundred-day moving average of $343.78. The company has a market capitalization of $18.48 billion, a PE ratio of 41.40, a P/E/G ratio of 2.53 and a beta of 1.76.

EPAM Systems (NYSE:EPAM – Get Rating) last released its quarterly results on Thursday, May 5. The information technology services provider reported earnings per share (EPS) of $2.39 for the quarter, beating consensus analyst estimates of $1.57 by $0.82. EPAM Systems achieved a net margin of 11.14% and a return on equity of 21.92%. The company posted revenue of $1.17 billion in the quarter, compared to analysts’ expectations of $1.06 billion. In the same period a year earlier, the company had earned earnings per share of $1.63. The company’s quarterly revenue increased by 50.1% compared to the same quarter last year. As a group, equity analysts expect EPAM Systems to post 7.3 EPS for the current fiscal year.

Insider trading at EPAM Systems

In other news, Chief Financial Officer Jason D. Peterson sold 1,000 shares in a trade that took place on Wednesday, May 11. The shares were sold at an average price of $325.00, for a total transaction of $325,000.00. Following the sale, the CFO now directly owns 12,162 shares of the company, valued at $3,952,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Separately, CMO Elaina Shekhter sold 100 shares in a trade that took place on Tuesday, June 7. The shares were sold at an average price of $347.10, for a total transaction of $34,710.00. Following the sale, the marketing director now directly owns 7,671 shares of the company, valued at $2,662,604.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CFO Jason D. Peterson sold 1,000 shares of the company in a trade that took place on Wednesday, May 11. The shares were sold at an average price of $325.00, for a total transaction of $325,000.00. Following completion of the transaction, the CFO now directly owns 12,162 shares of the company, valued at $3,952,650. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 1,500 shares of the company valued at $493,710. Company insiders own 4.10% of the company’s shares.

Hedge funds weigh on EPAM systems

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Sara Bay Financial increased its position in shares of EPAM Systems by 3.6% during the first quarter. Sara Bay Financial now owns 28,070 shares of the information technology service provider worth $8,326,000 after buying 978 more shares last quarter. Congress Wealth Management LLC DE bought a new position in shares of EPAM Systems during the fourth quarter at a value of $285,000. FourThought Financial LLC increased its position in shares of EPAM Systems by 6.4% during the first quarter. FourThought Financial LLC now owns 954 shares of the information technology service provider worth $283,000 after buying 57 additional shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of EPAM Systems during the fourth quarter at a value of $1,110,000. Finally, Bradley Foster & Sargent Inc. CT bought a new position in shares of EPAM Systems during the fourth quarter at a value of $235,000. 95.24% of the shares are held by institutional investors.

About EPAM systems

(Get an assessment)

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 developing, testing, and maintaining software with private, public, and mobile infrastructure for managing applications, databases, networks, servers, storage, and system operations , as well as monitoring, incident notification and resolution services; and maintenance and support services.

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