EPAM Systems (NYSE:EPAM) Stock Rating Upgraded by StockNews.com

EPAM Systems (NYSE:EPAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Other equities analysts also recently issued reports about the company. Needham & Company LLC raised their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler lifted their price objective on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 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. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Price Performance

Shares of NYSE EPAM opened at $235.29 on Friday. The stock has a market cap of $13.35 billion, a P/E ratio of 30.56, a P/E/G ratio of 3.81 and a beta of 1.46. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The stock has a 50 day moving average of $203.19 and a two-hundred day moving average of $198.10. 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 declared that its board has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of EPAM Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after acquiring an additional 39,531 shares during the period. Pacer Advisors Inc. grew its stake in shares of 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 worth $123,601,000 after acquiring an additional 652,515 shares in the last quarter. TD Asset Management Inc increased its position in shares of EPAM Systems by 80.0% during 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 acquiring an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of EPAM Systems by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after purchasing an additional 160,989 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in EPAM Systems during the second quarter valued at about $84,850,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.