EPAM Systems (NYSE:EPAM) Upgraded to “Buy” at StockNews.com

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

Other analysts have also recently issued research reports about the company. Scotiabank raised EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $245.00 to $275.00 in a research report on Monday, November 11th. Citigroup raised their price target on EPAM Systems from $207.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Susquehanna upped their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has a consensus rating of “Moderate Buy” and an average target price of $264.20.

EPAM Systems Stock Down 3.9 %

Shares of EPAM traded down $9.57 during trading hours on Friday, hitting $235.29. The company had a trading volume of 851,851 shares, compared to its average volume of 623,844. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. 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. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The company’s fifty day moving average price is $203.19 and its two-hundred day moving average price is $198.36.

EPAM Systems declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $237.00, for a total transaction of $237,000.00. Following the transaction, the chief financial officer now directly owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EPAM. ORG Partners LLC raised its holdings in shares of EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems during the second quarter worth about $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in EPAM Systems by 181.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 100 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 purchased a new stake in shares of EPAM Systems in the 3rd quarter valued at approximately $44,000. 91.58% of the stock is 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.