Jefferies Financial Group Upgrades EPAM Systems (NYSE:EPAM) to Buy

EPAM Systems (NYSE:EPAM) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a $237.00 price objective on the information technology services provider’s stock, up from their previous price objective of $202.00. Jefferies Financial Group’s price target suggests a potential upside of 12.15% from the stock’s previous close.

A number of other research firms have also recently commented on EPAM. Barclays decreased their target price on shares of EPAM Systems from $265.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, May 13th. Piper Sandler decreased their price objective on EPAM Systems from $252.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, June 13th. Wedbush restated an “outperform” rating and set a $340.00 target price on shares of EPAM Systems in a research note on Wednesday, April 10th. Wolfe Research cut EPAM Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 17th. Finally, TD Cowen dropped their price target on EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $268.89.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $211.33 on Tuesday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 4.62 and a beta of 1.45. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $183.74 and its 200 day moving average is $247.58.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. On average, sell-side analysts anticipate that EPAM Systems will post 7.81 EPS for the current fiscal year.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new position in EPAM Systems during the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its stake in shares of EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares during the period. Riverview Trust Co purchased a new position in shares of EPAM Systems during the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems during the second quarter worth $29,000. Finally, Principal Securities Inc. acquired a new stake in EPAM Systems during the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.