EPAM Systems (NYSE:EPAM) Rating Increased to Buy at StockNews.com

EPAM Systems (NYSE:EPAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Barclays increased their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Needham & Company LLC increased their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on shares of EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Mizuho raised their price target on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $264.20.

EPAM Systems Price Performance

Shares of EPAM opened at $244.86 on Friday. The company has a 50 day moving average price of $202.58 and a 200-day moving average price of $198.38. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock has a market capitalization of $13.89 billion, a PE ratio of 31.80, a PEG ratio of 3.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 4.56.

EPAM Systems declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at EPAM Systems

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 completion of the transaction, the chief financial officer now owns 24,836 shares in the company, valued at $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Trading of EPAM Systems

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC increased its holdings in shares of 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 during the period. Opal Wealth Advisors LLC purchased a new stake in shares of EPAM Systems in the 2nd quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of EPAM Systems by 181.8% in the 3rd 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 3rd quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after buying an additional 106 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of EPAM Systems in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors 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.