Citigroup Cuts EPAM Systems (NYSE:EPAM) Price Target to $100.00

EPAM Systems (NYSE:EPAM) had its price target cut by investment analysts at Citigroup from $112.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. Citigroup’s price objective indicates a potential upside of 6.19% from the stock’s previous close.

Several other equities research analysts also recently commented on EPAM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $85.00 price objective on shares of EPAM Systems in a report on Friday, July 10th. Wedbush assumed coverage on shares of EPAM Systems in a research note on Monday, June 15th. They issued a “neutral” rating and a $99.00 target price for the company. Weiss Ratings lowered shares of EPAM Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Truist Financial dropped their price target on shares of EPAM Systems from $146.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Finally, Guggenheim reduced their price objective on shares of EPAM Systems from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.50.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded up $4.32 during mid-day trading on Monday, reaching $94.17. The company had a trading volume of 358,932 shares, compared to its average volume of 1,544,698. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.85 and a beta of 1.43. The company’s 50-day moving average price is $90.89 and its 200-day moving average price is $131.12. EPAM Systems has a one year low of $73.06 and a one year high of $222.53.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.11. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.EPAM Systems’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. As a group, equities research analysts anticipate that EPAM Systems will post 10.4 EPS for the current fiscal year.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently bought and sold shares of EPAM. Sunbelt Securities Inc. grew its stake in EPAM Systems by 4,233.3% in the 4th quarter. Sunbelt Securities Inc. now owns 130 shares of the information technology services provider’s stock worth $27,000 after buying an additional 127 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of EPAM Systems by 279.5% during the 4th quarter. Sound Income Strategies LLC now owns 148 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in EPAM Systems in the second quarter worth $27,000. 1248 Management LLC purchased a new position in EPAM Systems in the fourth quarter worth $32,000. Finally, Rothschild Investment LLC increased its stake in EPAM Systems by 51.4% in the fourth quarter. Rothschild Investment LLC now owns 159 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 54 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Company Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.