EPAM Systems (NYSE:EPAM) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research note released on Saturday.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group began coverage on EPAM Systems in a research note on Monday, June 24th. They set a neutral rating and a $200.00 price target on the stock. Piper Sandler restated an overweight rating and set a $225.00 price target on shares of EPAM Systems in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a hold rating and a $204.00 price target on the stock. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a buy rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $258.32.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $195.03 on Friday. 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 has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market capitalization of $11.31 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 4.26 and a beta of 1.45. The stock’s 50-day simple moving average is $199.18 and its 200-day simple moving average is $206.86.

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, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business 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 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On EPAM Systems

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in EPAM Systems by 14,325.2% in the 2nd 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 period. Manning & Napier Advisors LLC acquired a new position in EPAM Systems during the second quarter worth approximately $84,850,000. TD Asset Management Inc boosted its holdings in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after buying an additional 188,704 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in shares of EPAM Systems by 97.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock valued at $63,707,000 after buying an additional 167,343 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.