StockNews.com Downgrades EPAM Systems (NYSE:EPAM) to Hold

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

Several other analysts have also issued reports on EPAM. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Barclays upped their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Susquehanna decreased their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Finally, Piper Sandler restated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research note on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $258.32.

EPAM Systems Stock Performance

Shares of NYSE EPAM opened at $200.58 on Wednesday. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a 50 day moving average of $202.36 and a 200-day moving average of $214.68. 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 company has a market capitalization of $11.63 billion, a P/E ratio of 27.44, a P/E/G ratio of 4.36 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts predict that EPAM Systems will post 8.07 EPS for the current year.

EPAM Systems announced that its board has approved a share buyback program 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 purchase 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its holdings in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of EPAM Systems in the second quarter worth about $84,850,000. Price T Rowe Associates Inc. MD boosted its position in shares of EPAM Systems by 372.2% in the fourth 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 acquiring an additional 375,439 shares during the period. TD Asset Management Inc boosted its position in shares of 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 acquiring an additional 264,570 shares during the period. Finally, Acadian Asset Management LLC grew its stake in EPAM Systems by 47,294.2% during the second quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after acquiring an additional 188,704 shares in the last quarter. 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.