EPAM Systems (NYSE:EPAM) Sees Unusually-High Trading Volume After Earnings Beat

EPAM Systems, Inc. (NYSE:EPAM) saw an uptick in trading volume on Friday following a better than expected earnings announcement. 482,651 shares changed hands during mid-day trading, a decline of 12% from the previous session’s volume of 547,904 shares.The stock last traded at $185.82 and had previously closed at $181.93.

The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. EPAM Systems had a net margin of 8.89% and a return on equity of 15.53%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of EPAM Systems from $325.00 to $275.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. HSBC dropped their price objective on shares of EPAM Systems from $350.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Mizuho upped their price objective on shares of EPAM Systems from $340.00 to $345.00 and gave the company a “buy” rating in a report on Friday, February 16th. Piper Sandler dropped their price objective on shares of EPAM Systems from $317.00 to $252.00 and set an “overweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of EPAM Systems from $331.00 to $311.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.27.

Insider Activity at EPAM Systems

In related news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $301.93, for a total value of $1,047,697.10. Following the sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other EPAM Systems news, EVP Balazs Fejes sold 3,470 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $301.93, for a total transaction of $1,047,697.10. Following the sale, the executive vice president now owns 13,334 shares of the company’s stock, valued at $4,025,934.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sergey Yezhkov sold 8,000 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 12,770 shares in the company, valued at approximately $3,857,050.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,820 shares of company stock valued at $5,101,117 over the last 90 days. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new stake in EPAM Systems in the fourth quarter valued at $25,000. Riverview Trust Co acquired a new stake in EPAM Systems in the first quarter valued at $29,000. VisionPoint Advisory Group LLC lifted its holdings in EPAM Systems by 103.0% in the third quarter. VisionPoint Advisory Group LLC now owns 136 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Principal Securities Inc. acquired a new stake in EPAM Systems in the fourth quarter valued at $43,000. Finally, NBC Securities Inc. acquired a new stake in EPAM Systems in the third quarter valued at $46,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Trading Up 1.9 %

The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $268.59 and a 200 day simple moving average of $273.14. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 10.58 and a beta of 1.46.

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.