EPAM Systems’ (EPAM) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of EPAM Systems (NYSE:EPAM) in a research report report published on Wednesday, Benzinga reports. They currently have a $225.00 price target on the information technology services provider’s stock.

Several other brokerages also recently issued reports on EPAM. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a hold rating and a $204.00 price objective on the stock. Wolfe Research downgraded EPAM Systems from an outperform rating to a peer perform rating in a research report on Friday, May 17th. TD Cowen reduced their target price on EPAM Systems from $282.00 to $203.00 and set a hold rating on the stock in a research report on Friday, May 10th. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, Susquehanna dropped their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a research note on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of Hold and a consensus price target of $260.21.

EPAM Systems Trading Up 2.6 %

Shares of EPAM stock opened at $200.50 on Wednesday. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. 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 business has a fifty day simple moving average of $199.26 and a 200-day simple moving average of $225.74. The stock has a market cap of $11.62 billion, a P/E ratio of 27.43, a P/E/G ratio of 4.41 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that EPAM Systems will post 8.07 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. purchased a new stake in EPAM Systems during the 4th quarter worth approximately $25,000. ORG Partners LLC raised its holdings 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 acquiring an additional 150 shares in the last quarter. Riverview Trust Co bought a new position in EPAM Systems during the 1st quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new position in EPAM Systems during the 2nd quarter worth $29,000. Finally, Principal Securities Inc. bought a new stake in shares of EPAM Systems in the 4th quarter worth about $43,000. 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.