EPAM Systems (NYSE:EPAM) Price Target Raised to $258.00

EPAM Systems (NYSE:EPAM) had its price objective lifted by Piper Sandler from $225.00 to $258.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

Several other research analysts have also recently issued reports on the stock. Susquehanna reduced their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Barclays upped their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Finally, Citigroup upped their price objective on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $261.50.

EPAM Systems Trading Up 0.2 %

EPAM Systems stock opened at $233.45 on Thursday. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a market cap of $13.29 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 4.45 and a beta of 1.46. The stock has a 50-day moving average of $198.94 and a two-hundred day moving average of $197.93.

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

EPAM Systems announced that its board has approved a stock buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metis Global Partners LLC raised its stake in shares of EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after acquiring an additional 50 shares during the period. Retirement Systems of Alabama raised its position in EPAM Systems by 0.4% in the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares during the period. Motley Fool Asset Management LLC lifted its stake in EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its position in shares of EPAM Systems by 0.5% during the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after buying an additional 56 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of EPAM Systems by 21.3% in the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 57 shares in 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.