EPAM Systems (NYSE:EPAM) Shares Down 3%

Shares of EPAM Systems, Inc. (NYSE:EPAM) were down 3% during trading on Tuesday . The stock traded as low as $197.95 and last traded at $199.38. Approximately 127,479 shares changed hands during trading, a decline of 80% from the average daily volume of 622,202 shares. The stock had previously closed at $205.46.

Wall Street Analyst Weigh In

A number of research firms recently commented on EPAM. Susquehanna decreased their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group boosted their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Stock Performance

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 firm has a market cap of $11.49 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 4.48 and a beta of 1.45. The business’s 50-day simple moving average is $202.95 and its two-hundred day simple moving average is $218.69.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $2.21 earnings per share. EPAM Systems’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that EPAM Systems, Inc. will post 8.06 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding 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 programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares during the last quarter. Intech Investment Management LLC purchased a new stake in EPAM Systems during the fourth quarter worth about $285,000. Duality Advisers LP boosted its stake in shares of EPAM Systems by 60.7% in the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after purchasing an additional 4,061 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of EPAM Systems by 12.7% in the fourth quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock valued at $17,878,000 after purchasing an additional 6,798 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in EPAM Systems during the 2nd quarter worth approximately $734,000. 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.