EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Susquehanna Analyst Says

EPAM Systems (NYSE:EPAM) had its price objective increased by stock analysts at Susquehanna from $240.00 to $270.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “positive” rating on the information technology services provider’s stock. Susquehanna’s price objective points to a potential upside of 14.07% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Needham & Company LLC upped their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Barclays increased their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Citigroup raised their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.50.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded up $3.77 during mid-day trading on Friday, hitting $236.69. The stock had a trading volume of 172,120 shares, compared to its average volume of 617,631. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The company has a 50 day moving average of $198.28 and a two-hundred day moving average of $198.37. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The firm has a market cap of $13.48 billion, a PE ratio of 33.75, a PEG ratio of 4.16 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. Research analysts predict that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its board has approved a stock 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of EPAM Systems

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of EPAM Systems by 10.1% in the third quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider’s stock valued at $3,075,000 after purchasing an additional 1,414 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in EPAM Systems during the third quarter worth approximately $291,000. Pathstone Holdings LLC raised its stake in shares of EPAM Systems by 32.6% in the 3rd quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock valued at $2,836,000 after acquiring an additional 3,507 shares during the period. Quest Partners LLC grew its holdings in EPAM Systems by 36.7% during the 3rd quarter. Quest Partners LLC now owns 645 shares of the information technology services provider’s stock valued at $128,000 after purchasing an additional 173 shares in the last quarter. Finally, MAI Capital Management grew its holdings in EPAM Systems by 10.3% during the 3rd quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider’s stock valued at $7,986,000 after purchasing an additional 3,750 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.