EPAM Systems (NYSE:EPAM) Given New $311.00 Price Target at JPMorgan Chase & Co.

EPAM Systems (NYSE:EPAM) had its target price trimmed by JPMorgan Chase & Co. from $331.00 to $311.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus increased their target price on shares of EPAM Systems from $288.00 to $301.00 and gave the stock a buy rating in a report on Monday, February 12th. HSBC decreased their target price on EPAM Systems from $350.00 to $345.00 and set a buy rating for the company in a report on Wednesday, April 3rd. Mizuho increased their price target on EPAM Systems from $340.00 to $345.00 and gave the company a buy rating in a research report on Friday, February 16th. Susquehanna boosted their price objective on EPAM Systems from $300.00 to $360.00 and gave the stock a positive rating in a research report on Friday, February 16th. Finally, Scotiabank cut their target price on shares of EPAM Systems from $350.00 to $300.00 and set a sector outperform rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $315.60.

EPAM Systems Trading Up 1.7 %

NYSE:EPAM traded up $3.94 during trading hours on Thursday, reaching $242.12. 341,921 shares of the stock were exchanged, compared to its average volume of 497,799. EPAM Systems has a twelve month low of $197.99 and a twelve month high of $317.50. The business has a 50-day moving average of $275.62 and a two-hundred day moving average of $273.20. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 10.25 and a beta of 1.46. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.24. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 15.53% and a net margin of 8.89%. EPAM Systems’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. On average, equities analysts predict that EPAM Systems will post 7.72 EPS for the current year.

Insider Transactions at EPAM Systems

In other news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $301.93, for a total value of $1,047,697.10. Following the completion of the sale, the executive vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Sergey Yezhkov sold 8,000 shares of EPAM Systems stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $302.04, for a total transaction of $2,416,320.00. Following the completion of the transaction, the senior vice president now owns 12,770 shares of the company’s stock, valued at approximately $3,857,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Balazs Fejes sold 3,470 shares of EPAM Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the transaction, the executive vice president now owns 13,334 shares of the company’s stock, valued at approximately $4,025,934.62. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock worth $5,101,117 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of EPAM Systems

A number of large investors have recently made changes to their positions in the stock. Natixis Advisors L.P. boosted its position in EPAM Systems by 5.1% during the third quarter. Natixis Advisors L.P. now owns 28,200 shares of the information technology services provider’s stock worth $7,210,000 after acquiring an additional 1,370 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in shares of EPAM Systems by 9.2% during the third quarter. Lone Pine Capital LLC now owns 1,054,229 shares of the information technology services provider’s stock worth $269,556,000 after purchasing an additional 88,641 shares during the last quarter. TD Asset Management Inc grew its position in shares of EPAM Systems by 2.5% in the third quarter. TD Asset Management Inc now owns 63,074 shares of the information technology services provider’s stock valued at $16,127,000 after purchasing an additional 1,558 shares during the period. Flossbach Von Storch AG increased its stake in EPAM Systems by 46.7% in the fourth quarter. Flossbach Von Storch AG now owns 11,000 shares of the information technology services provider’s stock valued at $3,271,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in EPAM Systems in the third quarter valued at $13,402,000. 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.