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

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

Several other equities analysts have also issued reports on the company. Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an overweight rating in a report on Friday, September 6th. Piper Sandler reiterated an overweight rating and set a $225.00 target price on shares of EPAM Systems in a research note on Wednesday, September 4th. Jefferies Financial Group increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a hold rating and a $204.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, EPAM Systems presently has a consensus rating of Hold and an average target price of $258.32.

EPAM Systems Stock Down 2.7 %

Shares of EPAM Systems stock opened at $192.99 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company’s 50 day moving average price is $200.69 and its 200-day moving average price is $208.52. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $2.21 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts forecast that EPAM Systems will post 8.07 EPS for the current year.

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

Hedge Funds Weigh In On EPAM Systems

A number of hedge funds have recently bought and sold shares of EPAM. Czech National Bank raised its position in shares of EPAM Systems by 0.5% in the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after buying an additional 46 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of EPAM Systems by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after acquiring an additional 52 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in shares of EPAM Systems by 5.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of EPAM Systems by 0.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after buying an additional 56 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after purchasing an additional 63 shares in the last quarter. 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.