EPAM Systems (NYSE:EPAM) Shares Gap Up After Analyst Upgrade

EPAM Systems, Inc. (NYSE:EPAM) gapped up prior to trading on Thursday after Susquehanna raised their price target on the stock from $240.00 to $270.00. The stock had previously closed at $202.69, but opened at $230.61. Susquehanna currently has a positive rating on the stock. EPAM Systems shares last traded at $234.19, with a volume of 251,914 shares changing hands.

A number of other research analysts have also issued reports on EPAM. Needham & Company LLC lifted their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Barclays boosted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Finally, Jefferies Financial Group increased their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $261.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James & Associates boosted its position in EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after acquiring an additional 34,701 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of EPAM Systems by 251.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after purchasing an additional 13,690 shares during the period. Diversified Trust Co purchased a new position in EPAM Systems during the second quarter valued at approximately $734,000. Vanguard Group Inc. lifted its position in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after buying an additional 39,531 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of EPAM Systems during the 2nd quarter valued at $631,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $13.29 billion, a PE ratio of 30.32, a PEG ratio of 4.16 and a beta of 1.46. The firm’s fifty day moving average price is $198.94 and its 200 day moving average price is $198.28.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. On average, research analysts anticipate that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

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

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.