EPAM Systems (NYSE:EPAM) Rating Increased to Outperform at Itau BBA Securities

Itau BBA Securities upgraded shares of EPAM Systems (NYSE:EPAM) from a market perform rating to an outperform rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $269.00 price target on the information technology services provider’s stock.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Susquehanna lowered their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Piper Sandler upped their price objective on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.00.

EPAM Systems Trading Up 4.2 %

Shares of NYSE:EPAM opened at $243.25 on Friday. The stock has a 50 day moving average of $199.79 and a 200 day moving average of $197.65. The company has a market cap of $13.85 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. The company has a current ratio of 4.56, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. 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 authorized a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On EPAM Systems

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in EPAM Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after buying an additional 39,531 shares during the last quarter. Pacer Advisors Inc. raised its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares during the last quarter. TD Asset Management Inc raised its stake in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after buying an additional 94,544 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems in the second quarter valued at about $84,850,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.