EPAM Systems (NYSE:EPAM) Shares Gap Up – Should You Buy?

EPAM Systems, Inc. (NYSE:EPAM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $202.69, but opened at $230.61. EPAM Systems shares last traded at $234.19, with a volume of 251,914 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports 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 Tuesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Jefferies Financial Group lifted their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Barclays increased 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. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.89.

EPAM Systems Trading Up 14.0 %

The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $197.65 and its 200 day moving average is $198.13. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 4.16 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS 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 analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. Research analysts predict that EPAM Systems, Inc. will post 8.08 EPS for the current year.

EPAM Systems declared that its Board of Directors has initiated a share repurchase plan 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 buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of EPAM Systems

Several institutional investors have recently modified their holdings of EPAM. Metis Global Partners LLC lifted its stake in EPAM Systems by 2.5% in the 3rd quarter. Metis Global Partners LLC now owns 2,029 shares of the information technology services provider’s stock valued at $404,000 after buying an additional 50 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 worth $2,406,000 after purchasing an additional 52 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in EPAM Systems by 5.2% in the 1st 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 during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in EPAM Systems by 0.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after purchasing an additional 56 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in EPAM Systems by 1.1% during the 2nd 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 purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.