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

EPAM Systems (NYSE:EPAM) had its target price lifted by JPMorgan Chase & Co. from $222.00 to $262.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 28.36% from the stock’s previous close.

Several other equities research analysts have also recently commented on EPAM. Mizuho dropped their target price on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Needham & Company LLC dropped their target price on shares of EPAM Systems from $350.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Redburn Atlantic began coverage on shares of EPAM Systems in a research report on Friday, May 24th. They issued a “neutral” rating and a $195.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $257.63.

EPAM Systems Trading Up 0.1 %

EPAM Systems stock traded up $0.12 during trading hours on Friday, reaching $204.12. The stock had a trading volume of 250,579 shares, compared to its average volume of 616,594. The stock has a market cap of $11.83 billion, a PE ratio of 27.86, a PEG ratio of 4.41 and a beta of 1.45. EPAM Systems has a 52 week low of $169.43 and a 52 week 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 company has a fifty day simple moving average of $199.63 and a 200-day simple moving average of $225.59.

EPAM Systems (NYSE:EPAM) last posted its 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. 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 during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $2.21 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts forecast that EPAM Systems will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated a stock repurchase plan 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of EPAM Systems

Several large investors have recently added to or reduced their stakes in EPAM. Aurora Investment Counsel lifted its stake in shares of EPAM Systems by 44.4% during the 2nd quarter. Aurora Investment Counsel now owns 5,865 shares of the information technology services provider’s stock valued at $1,103,000 after buying an additional 1,802 shares in the last quarter. Quarry LP boosted its holdings in EPAM Systems by 203.3% in the 2nd quarter. Quarry LP now owns 931 shares of the information technology services provider’s stock worth $175,000 after buying an additional 624 shares during the period. Creative Planning boosted its holdings in EPAM Systems by 34.0% in the 2nd quarter. Creative Planning now owns 3,574 shares of the information technology services provider’s stock worth $672,000 after buying an additional 907 shares during the period. Clearline Capital LP bought a new position in EPAM Systems in the 2nd quarter worth $11,053,000. Finally, Mackenzie Financial Corp boosted its holdings in EPAM Systems by 12.4% in the 2nd quarter. Mackenzie Financial Corp now owns 8,859 shares of the information technology services provider’s stock worth $1,666,000 after buying an additional 980 shares during the period. 91.58% of the stock is currently owned by institutional investors.

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.