EPAM Systems (NYSE:EPAM) Sets New 52-Week Low – What’s Next?

EPAM Systems, Inc. (NYSE:EPAM) hit a new 52-week low during trading on Friday . The company traded as low as $168.70 and last traded at $169.11, with a volume of 147795 shares trading hands. The stock had previously closed at $174.23.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of EPAM Systems from $305.00 to $288.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays decreased their price target on EPAM Systems from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Morgan Stanley raised their price target on shares of EPAM Systems from $230.00 to $256.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group raised shares of EPAM Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $235.00 to $295.00 in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $262.47.

EPAM Systems Stock Performance

The firm has a market cap of $9.57 billion, a P/E ratio of 21.45, a P/E/G ratio of 3.38 and a beta of 1.61. The company has a quick ratio of 4.56, a current ratio of 2.96 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $222.15 and a 200-day simple moving average of $220.78.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share (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 company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, sell-side analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,078 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $257.00, for a total value of $277,046.00. Following the transaction, the chief financial officer now directly owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors have recently made changes to their positions in EPAM. Capital World Investors grew its position in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock valued at $538,778,000 after buying an additional 414,942 shares during the period. Ameriprise Financial Inc. increased its stake in shares of EPAM Systems by 39.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after purchasing an additional 620,551 shares in the last quarter. Geode Capital Management LLC raised its holdings in EPAM Systems by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock worth $314,616,000 after purchasing an additional 37,119 shares during the period. Massachusetts Financial Services Co. MA lifted its position in EPAM Systems by 96.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider’s stock valued at $191,471,000 after purchasing an additional 401,355 shares in the last quarter. Finally, Marshall Wace LLP increased its position in EPAM Systems by 126.4% in the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock worth $179,944,000 after buying an additional 429,644 shares in the last quarter. 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.