EPAM Systems (NYSE:EPAM) Price Target Raised to $282.00

EPAM Systems (NYSE:EPAM) had its target price hoisted by Mizuho from $245.00 to $282.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

A number of other analysts have also commented on EPAM. Barclays lifted their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Itau BBA Securities raised shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, November 8th. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $245.00 to $275.00 in a report on Monday, November 11th. Needham & Company LLC increased their price target on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $235.29 on Wednesday. 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 has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market capitalization 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. The company’s 50 day moving average price is $203.19 and its two-hundred day moving average price is $198.36.

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

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value 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 represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors have recently bought and sold shares of the stock. Geneva Capital Management LLC boosted its holdings in EPAM Systems by 6.0% during the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after acquiring an additional 4,027 shares during the last quarter. Raymond James & Associates boosted its holdings in EPAM Systems by 1,741.1% during the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock worth $7,303,000 after purchasing an additional 34,701 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in EPAM Systems by 251.7% in the 3rd 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 in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in EPAM Systems in the 3rd quarter valued at about $8,195,000. Finally, Diversified Trust Co bought a new position in shares of EPAM Systems during the 2nd quarter worth approximately $734,000. Institutional investors own 91.58% of the company’s stock.

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.