EPAM Systems (NYSE:EPAM) Stock Rating Lowered by StockNews.com

EPAM Systems (NYSE:EPAM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Piper Sandler raised their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday. 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. Citigroup lifted their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted 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. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $256.63.

EPAM Systems Stock Performance

EPAM Systems stock traded up $30.27 during trading hours on Thursday, hitting $232.96. The company had a trading volume of 1,411,287 shares, compared to its average volume of 620,100. The firm has a market cap of $13.26 billion, a PE ratio of 33.38, a PEG ratio of 4.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The firm has a 50-day moving average of $198.28 and a 200 day moving average of $198.37.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the firm earned $2.21 earnings per share. 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 year.

EPAM Systems declared that its Board of Directors has approved a share repurchase 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC increased its stake in EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in EPAM Systems in the second quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Farther Finance Advisors LLC increased its stake in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in EPAM Systems in the third quarter valued at $44,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

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.