EPAM Systems (NYSE:EPAM) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a research note released on Monday morning.

EPAM has been the subject of several other research reports. Itau BBA Securities raised EPAM Systems from an underperform rating to a market perform rating in a report on Friday, August 9th. Susquehanna cut their price objective on EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a report on Friday, August 9th. The Goldman Sachs Group began coverage on EPAM Systems in a report on Monday, June 24th. They issued a neutral rating and a $200.00 price objective for the company. 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. Finally, Barclays increased 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. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $258.32.

EPAM Systems Trading Up 1.8 %

NYSE:EPAM opened at $205.46 on Monday. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $201.88 and a two-hundred day moving average price of $220.28. The company has a market cap of $11.91 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that EPAM Systems will post 8.06 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. ORG Partners LLC increased its position in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the period. Riverview Trust Co bought a new position in EPAM Systems during the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in EPAM Systems during the 2nd quarter worth $29,000. Principal Securities Inc. bought a new position in EPAM Systems during the 4th quarter worth $43,000. Finally, Whittier Trust Co. bought a new position in shares of EPAM Systems in the first quarter worth $64,000. 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.