EPAM Systems, Inc. (NYSE:EPAM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of EPAM Systems, Inc. (NYSE:EPAM) have been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $258.32.

EPAM has been the subject of several recent analyst reports. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Susquehanna reduced their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Barclays raised their target price on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research report on Tuesday, October 8th.

Hedge Funds Weigh In On EPAM Systems

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after acquiring an additional 39,531 shares during the last quarter. Pacer Advisors Inc. increased its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. TD Asset Management Inc raised its holdings in 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 worth $112,017,000 after purchasing an additional 264,570 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of EPAM Systems by 22.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after purchasing an additional 94,544 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of EPAM Systems in the 2nd quarter valued at $84,850,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Trading Down 0.8 %

Shares of EPAM opened at $200.00 on Tuesday. The stock has a 50 day simple moving average of $199.28 and a 200-day simple moving average of $203.32. 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 stock has a market cap of $11.59 billion, a PE ratio of 27.36, a PEG ratio of 4.26 and a beta of 1.45. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its board has approved a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.