Analysts Set EPAM Systems, Inc. (NYSE:EPAM) Target Price at $258.32

EPAM Systems, Inc. (NYSE:EPAM) has been assigned a consensus rating of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $258.32.

Several brokerages recently issued reports on EPAM. The Goldman Sachs Group initiated coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 target price on the stock. StockNews.com downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Piper Sandler reissued an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th.

Institutional Trading of EPAM Systems

Several institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares in the last quarter. Intech Investment Management LLC purchased a new position in EPAM Systems during the fourth quarter valued at $285,000. Duality Advisers LP increased its holdings in EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after acquiring an additional 4,061 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in EPAM Systems by 12.7% in the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock worth $17,878,000 after purchasing an additional 6,798 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of EPAM Systems during the 2nd quarter valued at about $734,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 2.2 %

EPAM stock opened at $200.58 on Friday. The stock has a market capitalization of $11.63 billion, a P/E ratio of 27.44, a P/E/G ratio of 4.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The business has a fifty day moving average price of $202.36 and a 200-day moving average price of $214.68.

EPAM Systems (NYSE:EPAM) last issued its 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. The business 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%. EPAM Systems’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 EPS. Equities analysts forecast 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 program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.