EPAM Systems (NYSE:EPAM) Price Target Raised to $250.00 at Jefferies Financial Group

EPAM Systems (NYSE:EPAM) had its price objective upped by Jefferies Financial Group from $237.00 to $250.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Other research analysts have also recently issued research reports about the company. Wolfe Research cut EPAM Systems from an outperform rating to a peer perform rating in a research note on Friday, May 17th. The Goldman Sachs Group assumed coverage on EPAM Systems in a research note on Monday, June 24th. They set a neutral rating and a $200.00 price objective on the stock. Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a research note on Friday, August 9th. Barclays raised their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Finally, Mizuho reduced their price objective on EPAM Systems from $345.00 to $258.00 and set a buy rating on the stock in a research note on Tuesday, May 14th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, EPAM Systems presently has a consensus rating of Hold and an average target price of $258.32.

EPAM Systems Stock Up 0.6 %

EPAM opened at $206.12 on Monday. The stock has a market cap of $11.74 billion, a PE ratio of 28.20, a P/E/G ratio of 4.50 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems has a 52 week low of $169.43 and a 52 week high of $317.50. The business’s fifty day simple moving average is $200.37 and its 200 day simple moving average is $223.12.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. As a group, research analysts expect that EPAM Systems will post 8.06 earnings per share for the current fiscal year.

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

Institutional Trading of EPAM Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Equitable Trust Co. lifted its holdings in EPAM Systems by 0.8% in the first quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock worth $1,641,000 after buying an additional 46 shares during the period. Czech National Bank increased its stake in shares of EPAM Systems by 0.5% during the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after purchasing an additional 46 shares in the last quarter. Meridian Management Co. increased its stake in shares of EPAM Systems by 0.6% during the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock valued at $2,372,000 after purchasing an additional 48 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its stake in shares of EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after purchasing an additional 56 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other 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.