EPAM Systems (NYSE:EPAM) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective 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. Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Itau BBA Securities upgraded EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Redburn Atlantic started coverage on EPAM Systems in a report on Friday, May 24th. They set a neutral rating and a $195.00 target price for the company. Finally, Piper Sandler restated an overweight rating and issued a $225.00 price objective on shares of EPAM Systems in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $258.32.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $198.15 on Monday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $202.95 and a two-hundred day simple moving average of $218.69. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45.

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, topping the consensus estimate 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 for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. Analysts anticipate that EPAM Systems will post 8.06 earnings per share for the current year.

EPAM Systems declared that its Board of Directors has authorized a share 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 repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of EPAM Systems

Hedge funds have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in EPAM Systems during the first quarter valued at about $29,000. Principal Securities Inc. purchased a new stake in EPAM Systems during the 4th quarter valued at about $43,000. ORG Partners LLC grew its position in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in EPAM Systems in the 2nd quarter worth approximately $29,000. Finally, Whittier Trust Co. bought a new stake in EPAM Systems in the first quarter valued at approximately $64,000. 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.