EPAM Systems (NYSE:EPAM) Raised to Sector Outperform at Scotiabank

EPAM Systems (NYSE:EPAM) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $275.00 price objective on the information technology services provider’s stock, up from their prior price objective of $245.00. Scotiabank’s price target points to a potential upside of 11.84% from the stock’s current price.

Several other analysts also recently weighed in on the company. Needham & Company LLC raised their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Susquehanna lifted their price objective on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a report on Friday, November 8th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup lifted their price target on shares of EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $263.00.

EPAM Systems Trading Up 1.1 %

NYSE:EPAM opened at $245.89 on Monday. The business’s 50-day moving average is $200.80 and its two-hundred day moving average is $197.70. The firm has a market capitalization of $13.95 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.84.

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

Insider Buying and Selling at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at $5,886,132. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EPAM. Pacer Advisors Inc. lifted its holdings in EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in EPAM Systems during the second quarter worth approximately $84,850,000. Massachusetts Financial Services Co. MA grew its position in EPAM Systems by 643.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,526 shares of the information technology services provider’s stock worth $83,100,000 after buying an additional 361,363 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after acquiring an additional 188,704 shares during the last quarter. 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.