EPAM Systems, Inc. (NYSE:EPAM – Get Rating) shares gapped down before the market opened on Tuesday after Stifel Nicolaus lowered their price target on the stock from $320.00 to $240.00. The stock had previously closed at $203.25, but opened at $197.99. EPAM Systems shares last traded at $206.33, with a volume of 200,240 shares changing hands.
Several other brokerages have also recently weighed in on EPAM. Needham & Company LLC upped their target price on EPAM Systems from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Citigroup cut shares of EPAM Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $310.00 to $220.00 in a report on Tuesday. Barclays lowered shares of EPAM Systems from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $310.00 to $220.00 in a report on Tuesday. Cowen downgraded shares of EPAM Systems from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $390.00 to $370.00 in a research note on Friday, February 17th. Finally, Susquehanna reduced their price objective on shares of EPAM Systems from $410.00 to $350.00 in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $356.67.
Institutional Trading of EPAM Systems
Several hedge funds and other institutional investors have recently bought and sold shares of EPAM. Mirae Asset Global Investments Co. Ltd. increased its stake in EPAM Systems by 8.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,348 shares of the information technology services provider’s stock worth $5,686,000 after buying an additional 1,287 shares in the last quarter. Nordea Investment Management AB grew its stake in EPAM Systems by 103.2% during the 4th quarter. Nordea Investment Management AB now owns 108,748 shares of the information technology services provider’s stock worth $35,131,000 after purchasing an additional 55,220 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of EPAM Systems by 182.3% in the 3rd quarter. Quadrature Capital Ltd now owns 5,273 shares of the information technology services provider’s stock valued at $1,913,000 after purchasing an additional 3,405 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in EPAM Systems by 1,175.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,550 shares of the information technology services provider’s stock valued at $838,000 after purchasing an additional 2,350 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of EPAM Systems by 3.5% during the fourth quarter. Arizona State Retirement System now owns 16,238 shares of the information technology services provider’s stock worth $5,322,000 after purchasing an additional 546 shares in the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.
EPAM Systems Price Performance
EPAM Systems Company Profile
EPAM Systems, Inc engages in the provision of software product development and digital platform engineering services. It operates through the following geographical segments: North America, Europe, and Russia. The company was founded by Leonid Lozner and Arkadiy Dobkin in 1993 and is headquartered in Newtown, PA.
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