EPAM Systems (NYSE:EPAM) Price Target Raised to $282.00

EPAM Systems (NYSE:EPAM) had its price target increased by Mizuho from $245.00 to $282.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other equities research analysts have also recently weighed in on EPAM. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Barclays raised their target price 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. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Piper Sandler raised their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Performance

EPAM Systems stock opened at $235.29 on Wednesday. The firm has a fifty day simple moving average of $203.19 and a two-hundred day simple moving average of $198.10. 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 has a twelve month low of $169.43 and a twelve month high of $317.50. The company has a market capitalization of $13.35 billion, a PE ratio of 30.56, a P/E/G ratio of 3.81 and a beta of 1.46.

EPAM Systems announced that its Board of Directors has authorized a share buyback program 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total value of $237,000.00. Following the sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in EPAM Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after acquiring an additional 39,531 shares in the last quarter. Pacer Advisors Inc. lifted its stake in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after acquiring an additional 652,515 shares during the period. TD Asset Management Inc boosted its holdings in shares of EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after purchasing an additional 160,989 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after buying an additional 94,544 shares during the last quarter. 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.