EPAM Systems (NYSE:EPAM) Downgraded by StockNews.com to Hold

EPAM Systems (NYSE:EPAM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other research firms also recently weighed in on EPAM. Barclays upped their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research note on Wednesday, September 4th. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Jefferies Financial Group upped their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, Susquehanna lowered their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems currently has an average rating of “Hold” and an average target price of $258.32.

EPAM Systems Price Performance

Shares of EPAM Systems stock opened at $200.58 on Wednesday. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. The company has a fifty day moving average of $202.36 and a 200-day moving average of $214.68. EPAM Systems has a 52-week low of $169.43 and a 52-week 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.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data 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 business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 earnings per share. Equities research analysts expect that EPAM Systems will post 8.07 EPS for the current year.

EPAM Systems declared that its board has initiated a share repurchase program 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Large investors have recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in shares of EPAM Systems during the 4th quarter valued at about $210,000. Corient Private Wealth LLC raised its position in shares of EPAM Systems by 62.8% in the fourth quarter. Corient Private Wealth LLC now owns 3,462 shares of the information technology services provider’s stock valued at $1,029,000 after purchasing an additional 1,336 shares during the period. US Bancorp DE lifted its stake in shares of EPAM Systems by 144.5% in the fourth quarter. US Bancorp DE now owns 7,076 shares of the information technology services provider’s stock worth $2,104,000 after buying an additional 4,182 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of EPAM Systems by 5.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,992 shares of the information technology services provider’s stock worth $4,458,000 after buying an additional 785 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of EPAM Systems during the 4th quarter worth $285,000. Institutional investors and hedge funds 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.