EPAM Systems (NYSE:EPAM) Raised to Outperform at Itau BBA Securities

EPAM Systems (NYSE:EPAM) was upgraded by research analysts at Itau BBA Securities from a “market perform” rating to an “outperform” rating in a research note issued on Friday, MarketBeat reports. The brokerage presently has a $269.00 target price on the information technology services provider’s stock. Itau BBA Securities’ price objective points to a potential upside of 15.23% from the company’s previous close.

Several other equities analysts have also commented on the company. Susquehanna lowered their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed 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. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup boosted their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.50.

EPAM Systems Trading Up 0.2 %

Shares of NYSE:EPAM traded up $0.53 on Friday, hitting $233.45. The company had a trading volume of 794,168 shares, compared to its average volume of 554,863. The firm’s 50-day simple moving average is $198.94 and its two-hundred day simple moving average is $197.93. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 4.45 and a beta of 1.46. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems has a 1 year low of $169.43 and a 1 year high of $317.50.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 EPS. Equities analysts anticipate that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of EPAM Systems

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its position in EPAM Systems by 14,325.2% during the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth $84,850,000. TD Asset Management Inc grew its position in shares of EPAM Systems by 80.0% during the 2nd 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 period. Acadian Asset Management LLC increased its stake in shares of EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after purchasing an additional 188,704 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after purchasing an additional 167,343 shares during the period. 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.