EPAM Systems (NYSE:EPAM) Upgraded at StockNews.com

EPAM Systems (NYSE:EPAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages have also issued reports on EPAM. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Barclays upped their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a 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 price target on the stock. Finally, Mizuho boosted their price objective on EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Trading Down 1.5 %

NYSE EPAM opened at $244.86 on Friday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 3.75 and a beta of 1.46. The company’s 50 day moving average price is $202.58 and its 200 day moving average price is $198.38. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

EPAM Systems announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,000 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EPAM. ORG Partners LLC raised its stake in EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 106 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in EPAM Systems in the third quarter valued at about $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.