EPAM Systems (NYSE:EPAM) Price Target Raised to $210.00

EPAM Systems (NYSE:EPAM) had its price objective increased by Citigroup from $207.00 to $210.00 in a research note published on Monday, Benzinga reports. Citigroup currently has a neutral rating on the information technology services provider’s stock.

EPAM has been the subject of several other research reports. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Susquehanna decreased their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Finally, Barclays lifted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Stock Down 2.5 %

Shares of NYSE EPAM opened at $189.01 on Monday. 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 company has a market cap of $10.96 billion, a P/E ratio of 25.86, a PEG ratio of 4.35 and a beta of 1.45. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50. The firm has a 50-day simple moving average of $198.45 and a two-hundred day simple moving average of $200.21.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. Research analysts anticipate that EPAM Systems will post 8.08 earnings per share for the current year.

EPAM Systems declared that its board has initiated a stock 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 repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Direct Indexing L.P. lifted its stake in shares of EPAM Systems by 13.6% during the first quarter. First Trust Direct Indexing L.P. now owns 883 shares of the information technology services provider’s stock worth $244,000 after buying an additional 106 shares during the period. Veracity Capital LLC lifted its stake in shares of EPAM Systems by 92.7% during the first quarter. Veracity Capital LLC now owns 1,476 shares of the information technology services provider’s stock worth $408,000 after buying an additional 710 shares during the period. Van ECK Associates Corp lifted its stake in shares of EPAM Systems by 6.9% during the first quarter. Van ECK Associates Corp now owns 8,901 shares of the information technology services provider’s stock worth $2,458,000 after buying an additional 573 shares during the period. Mission Wealth Management LP lifted its stake in shares of EPAM Systems by 57.1% during the first quarter. Mission Wealth Management LP now owns 1,103 shares of the information technology services provider’s stock worth $305,000 after buying an additional 401 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of EPAM Systems by 1.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,200 shares of the information technology services provider’s stock worth $2,857,000 after buying an additional 113 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.