EPAM Systems (NYSE:EPAM) Upgraded at StockNews.com

StockNews.com upgraded shares of EPAM Systems (NYSE:EPAM) from a hold rating to a buy rating in a report released on Friday.

Several other analysts have also issued reports on EPAM. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, November 8th. Mizuho upped their price objective on shares of EPAM Systems from $245.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. 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 report on Tuesday, July 23rd. Piper Sandler boosted their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC raised their price target on EPAM Systems from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Price Performance

EPAM stock opened at $233.42 on Friday. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The business has a fifty day moving average of $203.74 and a two-hundred day moving average of $197.81. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 3.60 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 initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the 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 transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC increased its position in shares of EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in EPAM Systems in the second quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings 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 valued at $31,000 after acquiring an additional 100 shares during the period. Farther Finance Advisors LLC raised its position in 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 valued at $42,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in EPAM Systems during the 3rd quarter worth $44,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

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.