Analysts Set EPAM Systems, Inc. (NYSE:EPAM) Target Price at $258.32

Shares of EPAM Systems, Inc. (NYSE:EPAM) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $258.32.

A number of research firms have recently issued reports on EPAM. The Goldman Sachs Group began coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a research note on Tuesday, October 8th. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Barclays increased their price target on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

EPAM Systems Stock Up 1.6 %

Shares of EPAM stock opened at $201.58 on Tuesday. The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 4.26 and a beta of 1.45. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a fifty day moving average of $199.06 and a 200-day moving average of $204.69. The company has a quick ratio of 4.84, a current ratio of 4.84 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, beating analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, equities research analysts predict that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On EPAM Systems

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC raised its holdings in EPAM Systems by 5,000.0% in the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Riverview Trust Co acquired a new position in EPAM Systems in the first quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new stake in EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in EPAM Systems in the 1st quarter valued at about $64,000. 91.58% of the stock is 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.