EPAM Systems (NYSE:EPAM) Upgraded at Scotiabank

EPAM Systems (NYSE:EPAM) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Monday, MarketBeat.com reports. The firm currently has a $275.00 price target on the information technology services provider’s stock, up from their prior price target of $245.00. Scotiabank’s price target indicates a potential upside of 11.84% from the company’s previous close.

Several other research firms have also weighed in on EPAM. Jefferies Financial Group upped their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Citigroup increased their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Barclays boosted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Finally, Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $263.00.

EPAM Systems Trading Up 1.1 %

EPAM Systems stock opened at $245.89 on Monday. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.56. The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 5.12 and a beta of 1.46. The company has a 50 day moving average price of $200.80 and a 200 day moving average price of $197.70.

EPAM Systems announced that its board has initiated a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EPAM. Vanguard Group Inc. boosted 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 buying an additional 39,531 shares in the last quarter. Pacer Advisors Inc. boosted its stake 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 worth $123,601,000 after purchasing an additional 652,515 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after purchasing an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock valued at $102,570,000 after buying an additional 160,989 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of 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 buying an additional 94,544 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

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.