EPAM Systems (NYSE:EPAM) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a report issued on Wednesday.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They issued a neutral rating and a $200.00 price objective on the stock. Jefferies Financial Group increased their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a buy rating in a report on Monday, September 9th. Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Susquehanna dropped their price target on EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a research note on Friday, August 9th. Finally, Barclays boosted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $258.32.

EPAM Systems Stock Down 0.6 %

EPAM opened at $199.46 on Wednesday. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $202.17 and its 200-day moving average price is $213.29. The company has a market cap of $11.56 billion, a P/E ratio of 27.29, a P/E/G ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm earned $2.21 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that EPAM Systems will post 8.07 EPS for the current year.

EPAM Systems declared that its Board of Directors has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On EPAM Systems

Institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in EPAM Systems by 372.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after acquiring an additional 375,439 shares during the period. Intech Investment Management LLC bought a new stake in shares of EPAM Systems in the 4th quarter worth about $285,000. Duality Advisers LP raised its position in shares of EPAM Systems by 60.7% during the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after buying an additional 4,061 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of EPAM Systems by 12.7% in the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after acquiring an additional 6,798 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in EPAM Systems in the second quarter worth about $734,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.