Mizuho Issues Positive Forecast for EPAM Systems (NYSE:EPAM) Stock Price

EPAM Systems (NYSE:EPAM) had its price target lifted by Mizuho from $245.00 to $282.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the company. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Jefferies Financial Group upped 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. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Barclays upped their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Stock Performance

NYSE EPAM opened at $248.70 on Wednesday. EPAM Systems has a 12-month low of $169.43 and a 12-month high of $317.50. The firm has a 50-day moving average price of $201.76 and a two-hundred day moving average price of $198.06. The company has a market capitalization of $14.11 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.75 and a beta of 1.46. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.01.

EPAM Systems announced that its board has approved a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EPAM Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC grew its position in shares of EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of EPAM Systems during the second quarter valued at about $29,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of EPAM Systems by 181.8% in 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. Farther Finance Advisors LLC boosted its position in shares of EPAM Systems by 101.0% in the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock valued at $42,000 after acquiring an additional 106 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in EPAM Systems during the third quarter valued at approximately $44,000. Institutional investors 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.