EPAM Systems (NYSE:EPAM) Given New $262.00 Price Target at JPMorgan Chase & Co.

EPAM Systems (NYSE:EPAM) had its price objective lifted by JPMorgan Chase & Co. from $222.00 to $262.00 in a report released on Friday, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

EPAM has been the topic of several other research reports. Mizuho dropped their price objective on EPAM Systems from $345.00 to $258.00 and set a buy rating on the stock in a research note on Tuesday, May 14th. Piper Sandler restated an overweight rating and set a $225.00 price objective on shares of EPAM Systems in a report on Wednesday. The Goldman Sachs Group began coverage on EPAM Systems in a research note on Monday, June 24th. They set a neutral rating and a $200.00 target price on the stock. Wolfe Research cut EPAM Systems from an outperform rating to a peer perform rating in a report on Friday, May 17th. Finally, Barclays upped their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $257.63.

EPAM Systems Trading Up 0.3 %

Shares of NYSE:EPAM opened at $204.66 on Friday. The company’s 50-day moving average price is $199.96 and its two-hundred day moving average price is $224.85. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The stock has a market capitalization of $11.86 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 4.41 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion during 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 quarterly 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 earnings per share. On average, equities analysts forecast that EPAM Systems will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its board has authorized a stock 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of EPAM Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in shares of EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after acquiring an additional 652,515 shares during the last quarter. Norges Bank bought a new position in EPAM Systems in the 4th quarter valued at approximately $184,713,000. Manning & Napier Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $84,850,000. Price T Rowe Associates Inc. MD boosted its position in EPAM Systems by 372.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 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.