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

EPAM Systems (NYSE:EPAM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

EPAM has been the topic of several other reports. Susquehanna cut their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Piper Sandler boosted their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday. 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 price target on the stock. Finally, Jefferies Financial Group boosted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $256.63.

EPAM Systems Stock Up 14.9 %

Shares of NYSE:EPAM traded up $30.27 during midday trading on Thursday, hitting $232.96. 1,411,287 shares of the company’s stock were exchanged, compared to its average volume of 620,100. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The stock has a 50 day moving average price of $198.28 and a 200-day moving average price of $198.37. The company has a market cap of $13.26 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 4.16 and a beta of 1.46. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM) last released its quarterly 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 net margin of 8.86% and a return on equity of 14.31%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its board has authorized a share buyback program 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 programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of EPAM Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of 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 worth $123,601,000 after buying an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of EPAM Systems in the 2nd quarter worth $84,850,000. TD Asset Management Inc increased 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 worth $112,017,000 after buying an additional 264,570 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after buying an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after buying an additional 167,343 shares during the last quarter. Institutional investors 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.