EPAM Systems (NYSE:EPAM) Rating Increased to Outperform at Itau BBA Securities

Itau BBA Securities upgraded shares of EPAM Systems (NYSE:EPAM) from a market perform rating to an outperform rating in a report released on Friday morning, Marketbeat reports. Itau BBA Securities currently has $269.00 target price on the information technology services provider’s stock.

Other analysts have also issued reports about the company. Piper Sandler raised their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Susquehanna dropped their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Needham & Company LLC raised their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $263.00.

EPAM Systems Trading Up 4.2 %

Shares of NYSE:EPAM opened at $243.25 on Friday. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 5.12 and a beta of 1.46. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The business has a 50-day moving average price of $199.79 and a 200-day moving average price of $197.65. The company has a quick ratio of 4.84, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in EPAM Systems by 0.6% in the first 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. raised its position 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 during the period. TD Asset Management Inc raised its position 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 valued at $112,017,000 after purchasing an additional 264,570 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in EPAM Systems by 22.6% in the first 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 purchasing an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems in the second quarter valued at $84,850,000. Hedge funds and other 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.