EPAM Systems (NYSE:EPAM) PT Raised to $250.00

EPAM Systems (NYSE:EPAM) had its target price hoisted by equities researchers at Jefferies Financial Group from $237.00 to $250.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 21.07% from the stock’s previous close.

A number of other research firms also recently weighed in on EPAM. JPMorgan Chase & Co. boosted their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Susquehanna decreased their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Finally, The Goldman Sachs Group began coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of “Hold” and a consensus target price of $258.32.

EPAM Systems Stock Up 0.2 %

Shares of EPAM stock opened at $206.50 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The stock has a fifty day moving average price of $200.84 and a 200 day moving average price of $222.45. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The stock has a market cap of $11.76 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 4.50 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. Analysts predict that EPAM Systems will post 8.06 earnings per share for the current year.

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

Hedge Funds Weigh In On EPAM Systems

Large investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. acquired a new stake in EPAM Systems during the fourth quarter worth approximately $25,000. ORG Partners LLC grew its holdings 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 buying an additional 150 shares in the last quarter. Riverview Trust Co bought a new stake in EPAM Systems during the first quarter worth $29,000. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems in the 2nd quarter valued at $29,000. Finally, Principal Securities Inc. bought a new position in EPAM Systems during the 4th quarter valued at $43,000. Institutional investors own 91.58% of the company’s stock.

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.