Jefferies Financial Group Raises EPAM Systems (NYSE:EPAM) Price Target to $250.00

EPAM Systems (NYSE:EPAM) had its price target increased by Jefferies Financial Group from $237.00 to $250.00 in a report issued on Monday, Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other analysts also recently issued reports about the company. Susquehanna lowered their price target on EPAM Systems from $260.00 to $240.00 and set a positive rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research note on Thursday, August 22nd. They issued a hold rating and a $204.00 target price for the company. Piper Sandler reissued an overweight rating and set a $225.00 price target on shares of EPAM Systems in a research report on Wednesday, September 4th. Redburn Atlantic assumed coverage on shares of EPAM Systems in a research report on Friday, May 24th. They issued a neutral rating and a $195.00 price objective for the company. Finally, Wolfe Research cut shares of EPAM Systems from an outperform rating to a peer perform rating in a research report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $258.32.

EPAM Systems Stock Performance

NYSE EPAM opened at $203.60 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The firm has a market capitalization of $11.80 billion, a P/E ratio of 27.85, a P/E/G ratio of 4.50 and a beta of 1.45. The business’s 50-day simple moving average is $201.20 and its 200-day simple moving average is $222.31.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company posted $2.21 earnings per share. EPAM Systems’s revenue was down 2.0% compared to the same quarter last year. Equities analysts predict that EPAM Systems will post 8.06 EPS for the current year.

EPAM Systems declared that its Board of Directors has initiated a stock buyback 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 purchase 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 stock is undervalued.

Institutional Trading of EPAM Systems

Several institutional investors have recently added to or reduced their stakes in EPAM. Benjamin F. Edwards & Company Inc. acquired a new position in shares of EPAM Systems in the 4th quarter valued at about $25,000. Riverview Trust Co bought a new position in EPAM Systems in the first quarter worth about $29,000. Principal Securities Inc. acquired a new position in EPAM Systems in the fourth quarter valued at approximately $43,000. ORG Partners LLC raised its position in shares of 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. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of EPAM Systems during the 2nd quarter worth approximately $29,000. 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.