Brokerages Set EPAM Systems, Inc. (NYSE:EPAM) Price Target at $260.21

EPAM Systems, Inc. (NYSE:EPAM) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $260.21.

A number of analysts have commented on the stock. Scotiabank downgraded shares of EPAM Systems from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $300.00 to $245.00 in a report on Friday, May 10th. Jefferies Financial Group upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $202.00 to $237.00 in a research report on Tuesday, July 16th. Barclays increased their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Susquehanna reduced their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Finally, The Goldman Sachs Group started coverage on EPAM Systems in a research report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective for the company.

EPAM Systems Price Performance

NYSE:EPAM opened at $200.76 on Monday. The stock has a 50 day moving average of $198.28 and a two-hundred day moving average of $228.12. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50. The firm has a market cap of $11.64 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 4.97 and a beta of 1.45. The company has a current ratio of 4.68, a quick ratio of 4.68 and a debt-to-equity ratio of 0.01.

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, topping 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 14.95% and a net margin of 9.28%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. On average, analysts expect that EPAM Systems will post 7.81 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EPAM. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of EPAM Systems in the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its stake 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 purchasing an additional 150 shares during the period. Riverview Trust Co purchased a new stake in shares of EPAM Systems in the first quarter valued at about $29,000. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems during the 2nd quarter valued at approximately $29,000. Finally, Principal Securities Inc. purchased a new stake in shares of EPAM Systems during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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.