EPAM Systems (NYSE:EPAM) Cut to Hold at StockNews.com

EPAM Systems (NYSE:EPAM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Other analysts have also issued reports about the company. Jefferies Financial Group lifted their target price on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Barclays lifted their price objective on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $225.00 price objective on shares of EPAM Systems in a research note on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, EPAM Systems currently has an average rating of “Hold” and an average price target of $258.32.

EPAM Systems Stock Performance

EPAM Systems stock opened at $195.72 on Friday. The firm has a market capitalization of $11.35 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 4.36 and a beta of 1.45. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The stock’s 50 day moving average price is $201.51 and its 200 day moving average price is $211.10. 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 (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping 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 net margin of 8.86% and a return on equity of 14.31%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, sell-side analysts expect that EPAM Systems will post 8.07 EPS for the current fiscal year.

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

Institutional Investors Weigh In On EPAM Systems

Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of EPAM Systems by 372.2% in the fourth 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 during the period. Duality Advisers LP raised its stake in EPAM Systems by 60.7% during the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after acquiring an additional 4,061 shares in the last quarter. Diversified Trust Co acquired a new position in EPAM Systems during the 2nd quarter worth $734,000. Vanguard Group Inc. grew its stake in shares of 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 worth $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of EPAM Systems by 62.6% during the first quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock valued at $12,809,000 after purchasing an additional 17,848 shares during the period. 91.58% of the stock is 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.