EPAM Systems (NYSE:EPAM) Hits New 1-Year Low – Here’s Why

EPAM Systems, Inc. (NYSE:EPAM) shares hit a new 52-week low during trading on Thursday . The company traded as low as $152.71 and last traded at $154.41, with a volume of 251239 shares traded. The stock had previously closed at $169.06.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EPAM shares. Scotiabank cut their price objective on EPAM Systems from $275.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, February 24th. Morgan Stanley upped their target price 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. Needham & Company LLC restated a “buy” rating and issued a $265.00 price objective on shares of EPAM Systems in a research report on Thursday, February 20th. The Goldman Sachs Group upgraded EPAM Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $235.00 to $295.00 in a research report on Friday, December 6th. Finally, StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.47.

EPAM Systems Trading Down 7.9 %

The company’s 50 day moving average price is $217.03 and its two-hundred day moving average price is $219.91. The firm has a market cap of $8.86 billion, a PE ratio of 19.87, 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.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.52). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.21 billion. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,078 shares of EPAM Systems stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $257.00, for a total transaction of $277,046.00. Following the completion of the sale, the chief financial officer now owns 23,382 shares of the company’s stock, valued at approximately $6,009,174. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider’s stock valued at $538,778,000 after purchasing an additional 414,942 shares in the last quarter. Ameriprise Financial Inc. raised its stake in EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider’s stock worth $510,053,000 after buying an additional 620,551 shares in the last quarter. Geode Capital Management LLC lifted its holdings in EPAM Systems by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider’s stock worth $314,616,000 after buying an additional 37,119 shares during the period. Massachusetts Financial Services Co. MA boosted its position in EPAM Systems by 96.1% during the 4th 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 acquiring an additional 401,355 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider’s stock valued at $179,944,000 after acquiring an additional 429,644 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.