EPAM Systems (NYSE:EPAM) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report released on Monday.

Other research analysts have also recently issued research reports about the company. Redburn Atlantic began coverage on EPAM Systems in a research report on Friday, May 24th. They issued a neutral rating and a $195.00 price target for the company. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Jefferies Financial Group raised 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. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a hold rating and a $204.00 price target for the company. Finally, The Goldman Sachs Group began coverage on EPAM Systems in a research report on Monday, June 24th. They issued a neutral rating and a $200.00 price target for the company. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $258.32.

EPAM Systems Trading Down 1.2 %

NYSE:EPAM opened at $197.94 on Monday. The stock has a fifty day moving average price of $202.63 and a two-hundred day moving average price of $218.83. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 4.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50.

EPAM Systems (NYSE:EPAM) last released 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 firm had revenue of $1.15 billion during 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%. EPAM Systems’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. As a group, sell-side analysts anticipate that EPAM Systems will post 8.06 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of EPAM Systems

A number of hedge funds have recently added to or reduced their stakes in EPAM. Pacer Advisors Inc. lifted its stake in shares of EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Norges Bank acquired a new position in shares of EPAM Systems in the 4th quarter valued at about $184,713,000. Manning & Napier Advisors LLC acquired a new position in shares of EPAM Systems in the 2nd quarter valued at about $84,850,000. 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 in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after purchasing an additional 264,570 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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.