EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Citigroup Analyst Says

EPAM Systems (NYSE:EPAM) had its target price increased by Citigroup from $207.00 to $210.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

Several other research firms have also recently weighed in on EPAM. Jefferies Financial Group raised their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Susquehanna dropped their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Barclays raised their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.89.

EPAM Systems Trading Down 0.2 %

Shares of EPAM stock opened at $188.65 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a fifty day simple moving average of $198.22 and a two-hundred day simple moving average of $200.13. The firm has a market capitalization of $10.74 billion, a PE ratio of 27.03, a PEG ratio of 4.35 and a beta of 1.45. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems (NYSE:EPAM) last released its earnings results 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. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $2.21 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. On average, analysts predict that EPAM Systems will post 8.08 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a stock 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 repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On EPAM Systems

A number of large investors have recently bought and sold shares of the business. Retirement Systems of Alabama boosted 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 during the period. Motley Fool Asset Management LLC grew its stake in EPAM Systems by 5.2% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock worth $310,000 after acquiring an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC grew its stake in EPAM Systems by 0.5% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock worth $2,321,000 after acquiring an additional 56 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of EPAM Systems by 1.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,788 shares of the information technology services provider’s stock worth $1,089,000 after acquiring an additional 63 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of EPAM Systems by 4.3% during the third quarter. V Square Quantitative Management LLC now owns 1,562 shares of the information technology services provider’s stock valued at $311,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other 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.