Mizuho Boosts EPAM Systems (NYSE:EPAM) Price Target to $282.00

EPAM Systems (NYSE:EPAM) had its target price lifted by research analysts at Mizuho from $245.00 to $282.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective suggests a potential upside of 14.69% from the stock’s current price.

A number of other analysts have also weighed in on EPAM. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group upped their price target on EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Needham & Company LLC lifted their price objective on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Piper Sandler upped their target price on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Susquehanna lifted their price target on shares of EPAM Systems from $240.00 to $270.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Trading Up 1.1 %

NYSE EPAM opened at $245.89 on Wednesday. EPAM Systems has a one year low of $169.43 and a one year high of $317.50. The firm has a 50 day simple moving average of $200.80 and a 200-day simple moving average of $197.70. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 3.93 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 has initiated a stock repurchase plan 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 reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EPAM Systems

In other news, CFO Jason D. Peterson sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 24,836 shares of the company’s stock, valued at approximately $5,886,132. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its holdings in shares of EPAM Systems by 1,741.1% in 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 buying an additional 34,701 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in EPAM Systems by 251.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider’s stock valued at $3,807,000 after acquiring an additional 13,690 shares during the period. Diversified Trust Co purchased a new stake in EPAM Systems during the 2nd quarter valued at approximately $734,000. Vanguard Group Inc. lifted its position in EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after acquiring an additional 39,531 shares during the period. Finally, MBB Public Markets I LLC purchased a new position in shares of EPAM Systems in the 2nd quarter valued at approximately $631,000. Hedge funds and other 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.