EPAM Systems (NYSE:EPAM) Rating Increased to Buy at StockNews.com

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

EPAM has been the topic of several other research reports. Piper Sandler boosted their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group boosted their target price 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. Mizuho boosted their target price on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Scotiabank raised shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Eight equities research 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 company has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Stock Performance

EPAM opened at $235.29 on Friday. The firm has a market cap of $13.35 billion, a P/E ratio of 30.56, a PEG ratio of 3.60 and a beta of 1.46. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a 50 day simple moving average of $203.19 and a two-hundred day simple moving average of $197.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56.

EPAM Systems announced that its Board of Directors has authorized a stock buyback plan 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. M&T Bank Corp grew its holdings in shares of EPAM Systems by 3.0% in the third quarter. M&T Bank Corp now owns 13,217 shares of the information technology services provider’s stock worth $2,631,000 after purchasing an additional 380 shares during the last quarter. Barclays PLC grew its holdings in shares of EPAM Systems by 12.2% in the third quarter. Barclays PLC now owns 128,629 shares of the information technology services provider’s stock worth $25,602,000 after purchasing an additional 13,981 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of EPAM Systems by 5,240.0% in the third quarter. Continuum Advisory LLC now owns 267 shares of the information technology services provider’s stock worth $53,000 after purchasing an additional 262 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of EPAM Systems by 12.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 16,848 shares of the information technology services provider’s stock worth $3,353,000 after purchasing an additional 1,801 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of EPAM Systems by 19.1% in the third quarter. MML Investors Services LLC now owns 6,522 shares of the information technology services provider’s stock worth $1,298,000 after purchasing an additional 1,045 shares during the last quarter. 91.58% of the stock is currently owned by 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.