EPAM Systems, Inc. (EPAM) Stock Rating Lowered by BidaskClub

EPAM Systems, Inc. (NYSE:EPAM) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday, July 31st.

EPAM has been the topic of a number of other research reports. Credit Suisse Group began coverage on shares of EPAM Systems in a research note on Friday, April 7th. They set an “outperform” rating and a $90.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price (up previously from $82.00) on shares of EPAM Systems in a research note on Friday, May 5th. Zacks Investment Research raised shares of EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Friday, May 5th. Cantor Fitzgerald reissued a “buy” rating and issued a $78.00 target price on shares of EPAM Systems in a research note on Thursday, May 4th. Finally, Barclays PLC reissued an “overweight” rating and issued a $84.00 target price (up previously from $80.00) on shares of EPAM Systems in a research note on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $90.11.

Shares of EPAM Systems (NYSE:EPAM) traded down 1.75% during trading on Monday, reaching $79.73. 392,850 shares of the company were exchanged. EPAM Systems has a 1-year low of $54.53 and a 1-year high of $87.93. The stock’s 50 day moving average is $84.21 and its 200 day moving average is $77.72. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 38.50 and a beta of 0.99.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.18. The company had revenue of $348.98 million for the quarter, compared to the consensus estimate of $342 million. EPAM Systems had a net margin of 8.71% and a return on equity of 15.12%. EPAM Systems’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equities analysts anticipate that EPAM Systems will post $3.32 earnings per share for the current year.

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In related news, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $84.76, for a total value of $2,901,673.84. Following the transaction, the senior vice president now owns 48,467 shares of the company’s stock, valued at approximately $4,108,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.65, for a total transaction of $2,231,610.75. Following the completion of the transaction, the senior vice president now directly owns 12,733 shares in the company, valued at approximately $1,090,581.45. The disclosure for this sale can be found here. Company insiders own 6.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EPAM. Vanguard Group Inc. boosted its position in shares of EPAM Systems by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,919,515 shares of the information technology services provider’s stock valued at $329,591,000 after buying an additional 105,644 shares during the last quarter. FMR LLC boosted its position in shares of EPAM Systems by 19.4% in the first quarter. FMR LLC now owns 3,675,177 shares of the information technology services provider’s stock valued at $277,549,000 after buying an additional 598,179 shares during the last quarter. Morgan Stanley boosted its position in shares of EPAM Systems by 21.0% in the first quarter. Morgan Stanley now owns 3,461,697 shares of the information technology services provider’s stock valued at $261,428,000 after buying an additional 600,775 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of EPAM Systems by 6.4% in the second quarter. JPMorgan Chase & Co. now owns 3,028,774 shares of the information technology services provider’s stock valued at $254,691,000 after buying an additional 183,111 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of EPAM Systems by 0.5% in the second quarter. BlackRock Inc. now owns 3,010,949 shares of the information technology services provider’s stock valued at $253,188,000 after buying an additional 15,882 shares during the last quarter. Institutional investors own 97.46% of the company’s stock.

About EPAM Systems

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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