EPAM Systems (NYSE:EPAM) Given New $210.00 Price Target at Citigroup

EPAM Systems (NYSE:EPAM) had its price target raised by Citigroup from $207.00 to $210.00 in a research report report published on Monday, Benzinga reports. The firm currently has a neutral rating on the information technology services provider’s stock.

Several other research analysts also recently weighed in on the company. Susquehanna dropped their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group boosted their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective 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. StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $254.89.

EPAM Systems Price Performance

Shares of EPAM opened at $188.65 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The company has a 50 day moving average price of $198.22 and a 200-day moving average price of $200.13. 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 $10.74 billion, a PE ratio of 27.03, a PEG ratio of 4.35 and a beta of 1.45.

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

EPAM Systems declared that its board has approved a share repurchase 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of EPAM Systems

Hedge funds have recently modified their holdings of the company. ORG Partners LLC grew its position in 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 acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC acquired a new position in EPAM Systems in the second quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in EPAM Systems by 181.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider’s stock worth $42,000 after acquiring an additional 106 shares in the last quarter. Finally, Whittier Trust Co. acquired a new stake in EPAM Systems in the 1st quarter valued at $64,000. 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.