EPAM Systems (NYSE:EPAM) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research note published on Friday.

Several other equities analysts also recently issued reports on EPAM. JPMorgan Chase & Co. upped their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Mizuho increased their price objective on EPAM Systems from $245.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Needham & Company LLC raised their price objective on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank upgraded EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $245.00 to $275.00 in a research report on Monday, November 11th. Finally, Jefferies Financial Group increased their price target on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Stock Down 0.8 %

NYSE:EPAM opened at $233.42 on Friday. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a market cap of $13.24 billion, a PE ratio of 30.31, a P/E/G ratio of 3.60 and a beta of 1.46. The company’s 50 day moving average is $203.74 and its two-hundred day moving average is $197.81.

EPAM Systems declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC raised its stake in EPAM Systems by 5,000.0% in the 2nd 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 during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of EPAM Systems by 181.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Farther Finance Advisors LLC boosted its position in 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 worth $42,000 after acquiring an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in EPAM Systems during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.