EPAM Systems (NYSE:EPAM) Lifted to Buy at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM – Free Report) from a hold rating to a buy rating in a research report sent to investors on Monday.

Other equities analysts also recently issued reports about the stock. Itau BBA Securities raised shares of EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Piper Sandler restated an overweight rating and issued a $225.00 target price on shares of EPAM Systems in a research note on Wednesday, September 4th. Redburn Atlantic assumed coverage on EPAM Systems in a research report on Friday, May 24th. They set a neutral rating and a $195.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a hold rating and a $204.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the company an overweight rating in a report on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $258.32.

Read Our Latest Stock Report on EPAM Systems

EPAM Systems Trading Up 0.1 %

NYSE EPAM opened at $198.15 on Monday. The stock has a market cap of $11.49 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a 50 day simple moving average of $202.95 and a two-hundred day simple moving average of $218.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

EPAM Systems (NYSE:EPAM – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The company 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%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. On average, analysts forecast that EPAM Systems will post 8.06 earnings per share for the current year.

EPAM Systems declared that its board has authorized a stock buyback 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently modified their holdings of EPAM. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 375,439 shares during the last quarter. Intech Investment Management LLC bought a new stake in EPAM Systems in the 4th quarter worth approximately $285,000. Duality Advisers LP raised its stake in EPAM Systems by 60.7% during 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 buying an additional 4,061 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of EPAM Systems by 12.7% during the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after buying an additional 6,798 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of EPAM Systems in the 2nd quarter worth $734,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

About EPAM Systems

(Get Free Report)

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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