EPAM Systems (NYSE:EPAM) Upgraded to Sector Outperform at Scotiabank

Scotiabank upgraded shares of EPAM Systems (NYSE:EPAM) from a sector perform rating to a sector outperform rating in a report issued on Monday, MarketBeat reports. They currently have $275.00 price target on the information technology services provider’s stock, up from their previous price target of $245.00.

EPAM has been the subject of a number of other reports. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Susquehanna lifted their price target on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a 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 company has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $248.70 on Monday. The stock has a market cap of $14.11 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.75 and a beta of 1.46. The firm’s 50-day simple moving average is $201.76 and its 200 day simple moving average is $198.06. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the sale, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On EPAM Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EPAM. Glenmede Trust Co. NA grew its holdings in shares of EPAM Systems by 31.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,036 shares of the information technology services provider’s stock valued at $2,595,000 after acquiring an additional 3,112 shares in the last quarter. Townsquare Capital LLC purchased a new position in EPAM Systems in the third quarter valued at about $6,435,000. Dai ichi Life Insurance Company Ltd acquired a new position in EPAM Systems in the 3rd quarter worth about $479,000. The Manufacturers Life Insurance Company raised its stake in shares of EPAM Systems by 21.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 45,188 shares of the information technology services provider’s stock worth $8,994,000 after purchasing an additional 7,885 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of EPAM Systems by 10.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,089 shares of the information technology services provider’s stock valued at $1,411,000 after buying an additional 695 shares during 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.