EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Mizuho Analyst Says

EPAM Systems (NYSE:EPAM) had its price target upped by Mizuho from $245.00 to $282.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the information technology services provider’s stock.

Several other brokerages also recently commented on EPAM. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup boosted their target price on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Susquehanna upped their target price on EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, 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 research report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Performance

NYSE EPAM opened at $235.29 on Wednesday. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company has a 50-day simple moving average of $203.19 and a 200 day simple moving average of $198.36. The company has a market capitalization of $13.35 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 3.81 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 approved a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. This represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently added to or reduced their stakes in EPAM. Janney Montgomery Scott LLC bought a new position in shares of EPAM Systems in the 1st quarter worth about $272,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of EPAM Systems by 3.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,026 shares of the information technology services provider’s stock valued at $1,112,000 after purchasing an additional 147 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of EPAM Systems in the 1st quarter worth approximately $220,000. Russell Investments Group Ltd. increased its position in EPAM Systems by 62.6% during the 1st quarter. Russell Investments Group Ltd. now owns 46,381 shares of the information technology services provider’s stock valued at $12,809,000 after buying an additional 17,848 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in EPAM Systems by 9.2% during the first quarter. Avantax Advisory Services Inc. now owns 1,701 shares of the information technology services provider’s stock valued at $470,000 after buying an additional 143 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.