EPAM Systems (NYSE:EPAM) Given New $258.00 Price Target at Piper Sandler

EPAM Systems (NYSE:EPAM) had its target price boosted by Piper Sandler from $225.00 to $258.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the information technology services provider’s stock.

Other research analysts have also recently issued research reports about the company. 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. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.50.

EPAM Systems Trading Up 0.2 %

Shares of NYSE EPAM traded up $0.53 on Thursday, reaching $233.45. 773,860 shares of the company traded hands, compared to its average volume of 620,907. The stock has a market capitalization of $13.29 billion, a PE ratio of 33.45, a P/E/G ratio of 4.16 and a beta of 1.46. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. 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 company has a 50 day moving average of $198.28 and a 200 day moving average of $198.37.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of EPAM Systems

Several hedge funds have recently made changes to their positions in EPAM. Vanguard Group Inc. boosted its stake in EPAM Systems by 0.6% during 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 purchasing an additional 39,531 shares during the period. Pacer Advisors Inc. boosted its position in shares of EPAM Systems by 14,325.2% during the second 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 period. TD Asset Management Inc grew its holdings in 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after acquiring an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in EPAM Systems during the 2nd quarter valued at $84,850,000. Institutional investors 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.