Brokerages Set EPAM Systems, Inc. (NYSE:EPAM) Price Target at $261.50

Shares of EPAM Systems, Inc. (NYSE:EPAM) have been assigned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $263.00.

Several equities analysts have recently weighed in on EPAM shares. Piper Sandler upped their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. 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. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Susquehanna raised their target price on EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EPAM. ORG Partners LLC grew its position 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 valued at $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems in the 2nd quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC increased its position in shares of EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after purchasing an additional 106 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of EPAM Systems in the 3rd quarter valued at $44,000. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Trading Up 4.2 %

Shares of EPAM opened at $243.25 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.56. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 5.12 and a beta of 1.46. The business’s fifty day moving average is $199.79 and its 200-day moving average is $197.65.

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

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.