Needham & Company LLC Issues Positive Forecast for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price target increased by Needham & Company LLC from $215.00 to $265.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the information technology services provider’s stock.

Several other equities analysts also recently commented on the company. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. StockNews.com lowered shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays boosted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Finally, Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $261.50.

EPAM Systems Stock Up 0.2 %

Shares of EPAM stock traded up $0.53 on Friday, hitting $233.45. The company’s stock had a trading volume of 794,168 shares, compared to its average volume of 554,863. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 4.45 and a beta of 1.46. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm’s fifty day moving average price is $198.94 and its 200-day moving average price is $198.28. 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 (NYSE:EPAM) last issued its quarterly earnings data 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. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Research analysts anticipate that EPAM Systems will post 8.08 EPS for the current year.

EPAM Systems announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

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