EPAM Systems’ (EPAM) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of EPAM Systems (NYSE:EPAM) in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has a $225.00 price target on the information technology services provider’s stock.

A number of other equities analysts have also recently weighed in on EPAM. Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Susquehanna reduced their price target on shares of EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a research report on Friday, August 9th. Jefferies Financial Group boosted their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a buy rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an overweight rating in a research note on Friday, September 6th. Finally, Barclays lifted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $258.32.

EPAM Systems Trading Up 1.2 %

Shares of EPAM stock opened at $195.03 on Tuesday. The stock has a 50-day simple moving average of $199.18 and a 200 day simple moving average of $207.29. The stock has a market capitalization of $11.11 billion, a P/E ratio of 27.94, a P/E/G ratio of 4.26 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 quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On EPAM Systems

Several hedge funds have recently modified their holdings of EPAM. Czech National Bank grew its position in EPAM Systems by 0.5% during the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after buying an additional 46 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of EPAM Systems by 5.2% in the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its position in EPAM Systems by 0.5% in the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after purchasing an additional 56 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 63 shares in the last quarter. 91.58% of the stock is owned by 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.