EPAM Systems (NYSE:EPAM) Receives New Coverage from Analysts at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems (NYSE:EPAM) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set a “hold” rating and a $204.00 price target on the information technology services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 1.68% from the company’s current price.

EPAM has been the topic of a number of other research reports. Scotiabank cut shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $300.00 to $245.00 in a report on Friday, May 10th. Susquehanna lowered their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of EPAM Systems from $331.00 to $311.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Piper Sandler lowered their price objective on shares of EPAM Systems from $230.00 to $225.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays increased their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $260.21.

EPAM Systems Price Performance

Shares of EPAM opened at $200.63 on Thursday. The stock has a market cap of $11.63 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s 50-day simple moving average is $194.75 and its two-hundred day simple moving average is $232.28.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts anticipate that EPAM Systems will post 7.81 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On EPAM Systems

Institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. purchased a new position in EPAM Systems during the fourth quarter valued at $25,000. ORG Partners LLC grew its stake in shares of 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 worth $28,000 after buying an additional 150 shares in the last quarter. Riverview Trust Co purchased a new position in shares of EPAM Systems in the 1st quarter worth $29,000. Opal Wealth Advisors LLC purchased a new position in shares of EPAM Systems in the 2nd quarter worth $29,000. Finally, Principal Securities Inc. purchased a new position in shares of EPAM Systems in the 4th quarter worth $43,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

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.