EPAM Systems (NYSE:EPAM) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of EPAM Systems (NYSE:EPAM) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other research firms have also recently weighed in on EPAM. Piper Sandler increased their price target on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Susquehanna decreased their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. 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 report on Monday, September 9th. Finally, Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Ten investment 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, EPAM Systems has an average rating of “Moderate Buy” and an average price target of $261.50.

EPAM Systems Trading Up 0.2 %

Shares of EPAM stock traded up $0.53 on Thursday, hitting $233.45. 794,168 shares of the stock traded hands, compared to its average volume of 554,863. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems has a twelve month low of $169.43 and a twelve month high of $317.50. The firm’s 50-day moving average price is $198.94 and its two-hundred day moving average price is $197.93. The stock has a market capitalization of $13.29 billion, a PE ratio of 33.45, a PEG ratio of 4.45 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last posted its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 EPS. As a group, analysts anticipate that EPAM Systems will post 8.08 EPS for the current year.

EPAM Systems declared that its Board of Directors has approved a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aurora Investment Counsel grew its holdings in shares of EPAM Systems by 3.3% during the third quarter. Aurora Investment Counsel now owns 6,056 shares of the information technology services provider’s stock worth $1,205,000 after purchasing an additional 191 shares during the last quarter. First Horizon Advisors Inc. raised its position in EPAM Systems by 21.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 325 shares of the information technology services provider’s stock valued at $65,000 after purchasing an additional 57 shares during the last quarter. Commerce Bank boosted its stake in EPAM Systems by 3.3% during the 3rd quarter. Commerce Bank now owns 3,381 shares of the information technology services provider’s stock worth $673,000 after purchasing an additional 109 shares during the period. PNC Financial Services Group Inc. grew its position in EPAM Systems by 10.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 15,448 shares of the information technology services provider’s stock worth $3,075,000 after purchasing an additional 1,414 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in EPAM Systems in the third quarter valued at $291,000. Institutional investors and hedge funds 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.