Price Action To Observe: EPAM Systems Inc Just Reaches 52-Week Low?

Price Action To Observe: EPAM Systems Inc Just Reaches 52 Week Low?

The stock of EPAM Systems Inc (NYSE:EPAM) hit a new 52-week low and has $56.95 target or 6.00% below today’s $60.58 share price. The 7 months bearish chart indicates high risk for the $3.07B company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $56.95 price target is reached, the company will be worth $184.20 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 503,965 shares traded hands or 48.36% up from the average. EPAM Systems Inc (NYSE:EPAM) has declined 16.73% since April 5, 2016 and is downtrending. It has underperformed by 18.68% the S&P500.

EPAM Systems Inc (NYSE:EPAM) Ratings Coverage

Out of 10 analysts covering EPAM Systems (NYSE:EPAM), 10 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. EPAM Systems has been the topic of 14 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Monness Crespi & Hardt upgraded the shares of EPAM in a report on Thursday, October 20 to “Buy” rating. The firm has “Buy” rating by Needham given on Thursday, November 19. The company was upgraded on Friday, May 6 by Barclays Capital. Wedbush initiated the shares of EPAM in a report on Friday, September 9 with “Outperform” rating. The stock has “Outperform” rating given by Cowen & Co on Friday, February 19. The rating was initiated by Berenberg on Friday, April 15 with “Buy”. The stock of EPAM Systems Inc (NYSE:EPAM) has “Hold” rating given on Monday, March 7 by Monness Crespi & Hardt. Renaissance Capital upgraded the stock to “Buy” rating in Thursday, November 19 report. Citigroup maintained EPAM Systems Inc (NYSE:EPAM) rating on Friday, May 27. Citigroup has “Buy” rating and $85.50 price target.

According to Zacks Investment Research, “EPAM Systems, Inc. is an IT services provider engaged in providing software product development services, software engineering and custom development solutions. Its software product development services include product research, design and prototyping, product development, component design and integration. Its custom application development services comprise business and technical requirements analysis, solution architecture creation and validation, development, component design and integration. The Company also provides application testing services consisting of software application testing, testing for enterprise IT, and consulting services. It serves banking, financial services, business information, media, travel and hospitality, retail, energy, telecommunications, automotive, manufacturing, life sciences industries and the government. EPAM Systems, Inc. is headquartered in Newtown, Pennsylvania.”

Insitutional Activity: The institutional sentiment increased to 1.34 in Q2 2016. Its up 0.23, from 1.11 in 2016Q1. The ratio is positive, as 27 funds sold all EPAM Systems Inc shares owned while 62 reduced positions. 38 funds bought stakes while 81 increased positions. They now own 47.01 million shares or 2.48% more from 45.87 million shares in 2016Q1.
Ww Invsts has 0.04% invested in the company for 2.23 million shares. Nationwide Fund Advsr holds 0.04% of its portfolio in EPAM Systems Inc (NYSE:EPAM) for 138,912 shares. Aberdeen Asset Mgmt Public Limited Co Uk last reported 1.49M shares in the company. Emerald Advisers Pa last reported 579,561 shares in the company. Bluecrest Cap Limited holds 0.02% of its portfolio in EPAM Systems Inc (NYSE:EPAM) for 7,076 shares. Parametric Portfolio Limited Liability Company last reported 0% of its portfolio in the stock. Ngam Limited Partnership, a Massachusetts-based fund reported 19,891 shares. Axiom Int Limited Liability Com De reported 21,860 shares or 0.04% of all its holdings. Mycio Wealth Prns Lc holds 0% or 55 shares in its portfolio. Employees Retirement System Of Texas last reported 26,000 shares in the company. Loomis Sayles And Limited Partnership holds 293,219 shares or 0.05% of its portfolio. Clarivest Asset Management Ltd holds 0.04% or 19,533 shares in its portfolio. Barclays Public Ltd Com, a United Kingdom-based fund reported 38 shares. Parametrica Mgmt Limited reported 11,147 shares or 1.07% of all its holdings. Blackrock Grp Ltd, a United Kingdom-based fund reported 68,422 shares.

Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 4 selling transactions for $1.56 million net activity. The insider Conte Anthony J sold $355,981. $376,150 worth of EPAM Systems Inc (NYSE:EPAM) was sold by Fejes Balazs on Wednesday, June 1.

More news for EPAM Systems Inc (NYSE:EPAM) were recently published by: Nasdaq.com, which released: “Earnings Reaction History: EPAM Systems Inc, 42.9% Follow-Through Indicator, 3 …” on November 07, 2016. Fool.com‘s article titled: “EPAM Systems Inc.’s Earnings Continue to Soar” and published on August 04, 2016 is yet another important article.

EPAM Company Profile

EPAM Systems, Inc. (EPAM), incorporated on December 18, 2002, is a well-known provider of software engineering solutions and information technology (IT) services. The Company’s service offerings include Software Product Development Services, Custom Application Development Services, Application Testing Services, Enterprise Application Platforms, Application Maintenance and Support, and Infrastructure Management Services. The Firm offers its solutions and services to industries, such as software and technology, financial services, media and entertainment, travel and hospitality, retail, energy, life sciences, healthcare, telecommunications and government.

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