Piper Sandler Issues Positive Forecast for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price target boosted by Piper Sandler from $225.00 to $258.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the company. Citigroup lifted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays raised their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Susquehanna decreased their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Finally, Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.50.

EPAM Systems Price Performance

Shares of EPAM Systems stock traded up $0.53 on Thursday, hitting $233.45. The company had a trading volume of 773,860 shares, compared to its average volume of 620,907. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The company has a market cap of $13.29 billion, a PE ratio of 33.45, a PEG ratio of 4.16 and a beta of 1.46. The business has a 50-day simple moving average of $198.28 and a 200-day simple moving average of $198.37.

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

EPAM Systems announced that its Board of Directors has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of EPAM Systems by 14,325.2% during 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 purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in EPAM Systems during the second quarter valued at about $84,850,000. TD Asset Management Inc lifted its position in shares of EPAM Systems by 80.0% in 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 buying an additional 264,570 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after acquiring an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after acquiring an additional 167,343 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

About EPAM Systems

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.