Jefferies Financial Group Boosts EPAM Systems (NYSE:EPAM) Price Target to $250.00

EPAM Systems (NYSE:EPAM) had its target price raised by Jefferies Financial Group from $237.00 to $250.00 in a research report report published on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the information technology services provider’s stock.

Several other equities research analysts also recently weighed in on EPAM. Barclays raised their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Redburn Atlantic started coverage on EPAM Systems in a report on Friday, May 24th. They set a neutral rating and a $195.00 price objective on the stock. Piper Sandler reissued an overweight rating and set a $225.00 price objective on shares of EPAM Systems in a report on Wednesday, September 4th. Susquehanna cut their price objective on EPAM Systems from $260.00 to $240.00 and set a positive rating on the stock in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, August 22nd. They set a hold rating and a $204.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $258.32.

EPAM Systems Trading Down 0.7 %

Shares of EPAM stock opened at $202.23 on Monday. The stock’s fifty day moving average price is $201.53 and its two-hundred day moving average price is $222.18. The company has a market cap of $11.72 billion, a PE ratio of 27.66, a P/E/G ratio of 4.50 and a beta of 1.45. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two 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 issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The firm had revenue of $1.15 billion for 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 company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. Equities analysts predict that EPAM Systems will post 8.06 EPS for the current fiscal year.

EPAM Systems declared that its board has authorized a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Versor Investments LP bought a new position in shares of EPAM Systems in the 4th quarter worth about $357,000. Price T Rowe Associates Inc. MD increased its position in EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares in the last quarter. Intech Investment Management LLC bought a new stake in EPAM Systems in the 4th quarter valued at about $285,000. Duality Advisers LP increased its position in EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after buying an additional 4,061 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in EPAM Systems by 12.7% in the 4th quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after buying an additional 6,798 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

About EPAM Systems

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.