Itau BBA Securities Upgrades EPAM Systems (NYSE:EPAM) to Outperform

EPAM Systems (NYSE:EPAM) was upgraded by equities research analysts at Itau BBA Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $269.00 price target on the information technology services provider’s stock. Itau BBA Securities’ target price indicates a potential upside of 15.47% from the stock’s current price.

EPAM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Piper Sandler increased their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays lifted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC increased their target price on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. Finally, Susquehanna lowered their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.00.

EPAM Systems Stock Up 14.9 %

EPAM opened at $232.96 on Friday. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The company’s 50-day moving average is $198.28 and its 200 day moving average is $198.37. The firm has a market capitalization of $13.26 billion, a P/E ratio of 33.38, a PEG ratio of 4.16 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its earnings results 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. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 EPS. Research analysts expect that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its board has approved a stock buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On EPAM Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Holdings LLC lifted its stake in EPAM Systems by 32.6% during the third quarter. Pathstone Holdings LLC now owns 14,249 shares of the information technology services provider’s stock worth $2,836,000 after purchasing an additional 3,507 shares during the last quarter. Quest Partners LLC raised its holdings in shares of 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 buying an additional 173 shares in the last quarter. MAI Capital Management lifted its position in EPAM Systems by 10.3% in the 3rd quarter. MAI Capital Management now owns 40,126 shares of the information technology services provider’s stock worth $7,986,000 after buying an additional 3,750 shares during the last quarter. Natixis Advisors LLC grew its position in EPAM Systems by 14.1% during the third quarter. Natixis Advisors LLC now owns 25,627 shares of the information technology services provider’s stock valued at $5,101,000 after acquiring an additional 3,167 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of EPAM Systems by 762.5% during the 3rd quarter. Mizuho Securities USA LLC now owns 38,520 shares of the information technology services provider’s stock valued at $7,667,000 after purchasing an additional 34,054 shares during 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.