EPAM Systems (NYSE:EPAM) Upgraded at StockNews.com

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report issued on Saturday morning.

Several other analysts have also commented on the company. JPMorgan Chase & Co. increased their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an overweight rating in a report on Friday, September 6th. Piper Sandler reiterated an overweight rating and issued a $225.00 price objective on shares of EPAM Systems in a report on Tuesday, October 8th. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Susquehanna decreased their price objective on EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a research report on Friday, August 9th. Finally, Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $258.32.

EPAM Systems Trading Up 1.5 %

Shares of EPAM stock opened at $198.00 on Friday. The stock has a market capitalization of $11.48 billion, a PE ratio of 27.09, a P/E/G ratio of 4.26 and a beta of 1.45. EPAM Systems has a 1-year low of $169.43 and a 1-year 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 business has a 50-day moving average of $199.09 and a 200 day moving average of $205.82.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $2.21 earnings per share. As a group, sell-side analysts anticipate that EPAM Systems will post 8.08 earnings per share for the current year.

EPAM Systems declared that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares during the last quarter. TD Asset Management Inc increased its holdings in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after buying an additional 94,544 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in EPAM Systems during the second quarter valued at $84,850,000. Institutional investors 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.