EPAM Systems, Inc. (EPAM) Lowered to Hold at BidaskClub

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

Other analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set 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 upgraded EPAM Systems from a “sell” rating to a “buy” rating and set a $90.00 price target for the company in a report on Friday, May 5th. Cantor Fitzgerald restated a “buy” rating and set a $78.00 price target on shares of EPAM Systems in a report on Thursday, May 4th. Monness Crespi & Hardt raised their price target on EPAM Systems from $82.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Credit Suisse Group began coverage on EPAM Systems in a report on Friday, April 7th. They set an “outperform” rating and a $90.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. EPAM Systems currently has an average rating of “Buy” and a consensus price target of $90.60.

Shares of EPAM Systems (NYSE EPAM) traded up 1.00% during midday trading on Monday, reaching $80.75. The company had a trading volume of 267,467 shares. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 38.99 and a beta of 0.99. EPAM Systems has a 12-month low of $54.53 and a 12-month high of $87.93. The company has a 50 day moving average of $83.78 and a 200 day moving average of $78.39.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share (EPS) for the quarter, beating the 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 return on equity of 15.12% and a net margin of 8.71%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. Analysts anticipate that EPAM Systems will post $3.32 EPS for the current year.

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In related news, CEO Arkadiy Dobkin sold 25,100 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $80.49, for a total transaction of $2,020,299.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $85.65, for a total value of $2,231,610.75. Following the sale, the senior vice president now directly owns 12,733 shares of the company’s stock, valued at $1,090,581.45. The disclosure for this sale can be found here. Insiders have sold a total of 85,389 shares of company stock valued at $7,153,584 over the last three months. 6.17% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Baird Financial Group Inc. purchased a new stake in shares of EPAM Systems during the first quarter worth $23,730,000. Wellington Management Group LLP raised its stake in shares of EPAM Systems by 30.0% in the first quarter. Wellington Management Group LLP now owns 916,126 shares of the information technology services provider’s stock worth $69,186,000 after buying an additional 211,513 shares during the period. State of Wisconsin Investment Board purchased a new stake in shares of EPAM Systems during the first quarter worth $4,154,000. Renaissance Technologies LLC purchased a new stake in shares of EPAM Systems during the fourth quarter worth $2,855,000. Finally, Bank of New York Mellon Corp raised its stake in shares of EPAM Systems by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 215,088 shares of the information technology services provider’s stock worth $16,244,000 after buying an additional 7,042 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

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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