EPAM Systems (NYSE:EPAM) Reaches New 1-Year Low at $172.56

Shares of EPAM Systems, Inc. (NYSE:EPAM) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $172.56 and last traded at $173.40, with a volume of 28172 shares. The stock had previously closed at $174.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wolfe Research cut EPAM Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Mizuho dropped their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. HSBC dropped their price target on EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Redburn Atlantic initiated coverage on EPAM Systems in a research report on Friday, May 24th. They set a “neutral” rating and a $195.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $276.35.

EPAM Systems Stock Down 0.8 %

The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 4.11 and a beta of 1.42. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $210.92 and a two-hundred day moving average of $262.35.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. As a group, analysts predict that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EPAM. UBS Group AG lifted its stake in shares of EPAM Systems by 3.5% in the third quarter. UBS Group AG now owns 83,597 shares of the information technology services provider’s stock worth $21,375,000 after acquiring an additional 2,803 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in EPAM Systems by 9.0% in the third quarter. PNC Financial Services Group Inc. now owns 20,047 shares of the information technology services provider’s stock valued at $5,126,000 after buying an additional 1,660 shares during the last quarter. Korea Investment CORP increased its holdings in EPAM Systems by 22.3% in the third quarter. Korea Investment CORP now owns 19,416 shares of the information technology services provider’s stock valued at $4,964,000 after buying an additional 3,540 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in EPAM Systems in the third quarter valued at about $1,124,000. Finally, Envestnet Asset Management Inc. increased its holdings in EPAM Systems by 95.8% in the third quarter. Envestnet Asset Management Inc. now owns 166,346 shares of the information technology services provider’s stock valued at $42,533,000 after buying an additional 81,386 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

About EPAM Systems

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.