StockNews.com Downgrades EPAM Systems (NYSE:EPAM) to Hold

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

EPAM has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Piper Sandler lifted their target price on EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Susquehanna cut their target price on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.50.

EPAM Systems Stock Up 0.2 %

Shares of NYSE:EPAM opened at $233.45 on Thursday. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The company’s fifty day moving average is $198.94 and its two-hundred day moving average is $198.28. 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 stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 4.16 and a beta of 1.46.

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

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of EPAM Systems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its position in EPAM Systems by 1,741.1% during the third quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider’s stock valued at $7,303,000 after acquiring an additional 34,701 shares in the last quarter. Duality Advisers LP lifted its stake in shares of EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after purchasing an additional 4,061 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in EPAM Systems by 251.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock worth $3,807,000 after purchasing an additional 13,690 shares in the last quarter. Diversified Trust Co acquired a new position in EPAM Systems during the second quarter worth $734,000. Finally, Vanguard Group Inc. raised its holdings in EPAM Systems by 0.6% during the first 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 buying an additional 39,531 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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.