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Recent Insider Activity Suggests Potential Gains for EPAM Systems Inc (EPAM)

EPAM Systems Inc’s filing revealed that its CEO, President, Chairman Dobkin Arkadiy unloaded Company’s shares for reported $2.79 million on Mar 15 ’24. In the deal valued at $300.17 per share,9,300 shares were sold. As a result of this transaction, Dobkin Arkadiy now holds 1,275,311 shares worth roughly $233.89 million.

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Then, Dobkin Arkadiy sold 18,865 shares, generating $5,693,268 in total proceeds. Upon selling the shares at $301.79, the CEO, President, Chairman now owns 1,223,611 shares.

Before that, Yezhkov Sergey sold 8,000 shares. EPAM Systems Inc shares valued at $2,416,320 were divested by the SVP/Co-Head of Global Business at a price of $302.04 per share. As a result of the transaction, Yezhkov Sergey now holds 12,770 shares, worth roughly $2.34 million.

Scotiabank downgraded its EPAM Systems Inc [EPAM] rating to a Sector perform from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late April from “an Underweight” to “an Equal-weight”. Guggenheim began covering EPAM with “Buy” recommendation on March 19, 2024. Scotiabank revised its rating on February 16, 2024. It rated EPAM as “a Sector outperform” which previously was an “a Sector perform”.

Price Performance Review of EPAM

On Friday, EPAM Systems Inc [NYSE:EPAM] saw its stock jump 0.81% to $183.40. Over the last five days, the stock has lost -24.25%. EPAM Systems Inc shares have fallen nearly -38.32% since the year began. Nevertheless, the stocks have fallen -21.02% over the past one year. While a 52-week high of $317.50 was reached on 03/08/24, a 52-week low of $180.28 was recorded on 05/09/24. SMA at 50 days reached $266.74, while 200 days put it at $264.61. A total of 1.89 million shares were traded, compared to the trading of 4.99 million shares in the previous session.

Levels Of Support And Resistance For EPAM Stock

The 24-hour chart illustrates a support level at 179.86, which if violated will result in even more drops to 176.33. On the upside, there is a resistance level at 187.90. A further resistance level may holdings at 192.41. The Relative Strength Index (RSI) on the 14-day chart is 17.93, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -28.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.59%. Stochastics %K at 32.38% indicates the stock is a holding.

The most recent change occurred on January 30, 2024 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $340 price target.

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