EPAM Systems (NYSE:EPAM) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research firms have also weighed in on EPAM. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Barclays upped their price objective on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Piper Sandler upped their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna cut their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Finally, Jefferies Financial Group increased their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, EPAM Systems presently has an average rating of “Moderate Buy” and an average target price of $261.50.

EPAM Systems Price Performance

Shares of NYSE EPAM traded up $0.07 during mid-day trading on Thursday, reaching $232.99. The company had a trading volume of 464,273 shares, compared to its average volume of 619,233. EPAM Systems has a 1-year low of $169.43 and a 1-year 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 stock has a market cap of $13.27 billion, a PE ratio of 33.75, a P/E/G ratio of 4.16 and a beta of 1.46. The company has a 50-day moving average price of $198.28 and a two-hundred day moving average price of $198.37.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that EPAM Systems will post 8.08 earnings per share for the current year.

EPAM Systems declared that its board has initiated a stock repurchase plan 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 plans are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently bought and sold shares of EPAM. ORG Partners LLC increased its stake in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of EPAM Systems during the 2nd quarter worth approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of EPAM Systems by 101.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of EPAM Systems during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds 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.