StockNews.com Downgrades EPAM Systems (NYSE:EPAM) to Hold

StockNews.com downgraded shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Several other brokerages also recently commented on EPAM. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a hold rating and a $204.00 price objective on the stock. Susquehanna decreased their price objective on EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a report on Friday, August 9th. Barclays increased their price target on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Piper Sandler restated an overweight rating and issued a $225.00 price target on shares of EPAM Systems in a research note on Wednesday, September 4th. Finally, Itau BBA Securities upgraded EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $258.32.

EPAM Systems Stock Performance

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

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data 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. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. On average, research analysts anticipate that EPAM Systems will post 8.07 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Institutional investors have recently bought and sold shares of the stock. ORG Partners LLC raised its position in EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 150 shares during the period. Riverview Trust Co purchased a new stake in EPAM Systems in the first quarter worth $29,000. Opal Wealth Advisors LLC bought a new stake in shares of EPAM Systems in the second quarter valued at $29,000. Whittier Trust Co. purchased a new position in shares of EPAM Systems during the 1st quarter valued at $64,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of EPAM Systems during the 2nd quarter worth $69,000. Institutional investors own 91.58% of the company’s stock.

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.