Susquehanna Forecasts Strong Price Appreciation for EPAM Systems (NYSE:EPAM) Stock

EPAM Systems (NYSE:EPAM) had its target price increased by Susquehanna from $240.00 to $270.00 in a report published on Friday,Benzinga reports. Susquehanna currently has a positive rating on the information technology services provider’s stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Needham & Company LLC lifted their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Piper Sandler lifted their price target on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $263.00.

EPAM Systems Trading Up 4.2 %

NYSE:EPAM opened at $243.25 on Friday. 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 has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock’s 50-day moving average is $199.79 and its two-hundred day moving average is $197.65. The stock has a market cap of $13.85 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 5.12 and a beta of 1.46.

EPAM Systems declared that its Board of Directors has approved a share 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 repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Aurora Investment Counsel increased its position in shares of EPAM Systems by 3.3% during the third quarter. Aurora Investment Counsel now owns 6,056 shares of the information technology services provider’s stock valued at $1,205,000 after purchasing an additional 191 shares during the period. First Horizon Advisors Inc. increased its position in shares of EPAM Systems by 21.3% during the third quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after purchasing an additional 57 shares during the period. Commerce Bank increased its position in shares of EPAM Systems by 3.3% during the third quarter. Commerce Bank now owns 3,381 shares of the information technology services provider’s stock valued at $673,000 after purchasing an additional 109 shares during the period. PNC Financial Services Group Inc. increased its position in shares of EPAM Systems by 10.1% during the third quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider’s stock valued at $3,075,000 after purchasing an additional 1,414 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of EPAM Systems during the third quarter valued at approximately $291,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.