EPAM Systems (NYSE:EPAM) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group boosted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a buy rating in a research note on Monday, September 9th. Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a research report on Friday, August 9th. Susquehanna cut their target price on shares of EPAM Systems from $260.00 to $240.00 and set a positive rating on the stock in a research note on Friday, August 9th. Piper Sandler reissued an overweight rating and issued a $225.00 price objective on shares of EPAM Systems in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an overweight rating in a research note on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $258.32.

EPAM Systems Price Performance

NYSE:EPAM opened at $198.00 on Friday. The stock’s fifty day moving average is $199.09 and its two-hundred day moving average is $205.82. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.48 billion, a P/E ratio of 27.09, a P/E/G ratio of 4.26 and a beta of 1.45. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $2.21 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts expect that EPAM Systems will post 8.08 EPS for the current year.

EPAM Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares during the last quarter. Pacer Advisors Inc. raised its holdings in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after purchasing an additional 94,544 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth about $84,850,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Company Profile

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.