EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

by · The Cerbat Gem

EPAM Systems (NYSE:EPAM – Free Report) had its price target boosted by Needham & Company LLC from $215.00 to $265.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

EPAM has been the topic of several other reports. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $263.00.

View Our Latest Stock Analysis on EPAM

EPAM Systems Stock Up 4.2 %

EPAM stock opened at $243.25 on Friday. The firm’s fifty day simple moving average is $199.79 and its 200-day simple moving average is $197.65. The company has a market capitalization of $13.85 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.84. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems announced that its Board of Directors has approved a share buyback plan 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

A number of hedge funds have recently modified their holdings of EPAM. ORG Partners LLC increased its position in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in EPAM Systems by 181.8% during the third 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 boosted its stake in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after buying an additional 106 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in EPAM Systems during the third quarter worth about $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Company Profile

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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.

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