EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

EPAM Systems (NYSE:EPAM - Get Free Report) had its price objective lifted by Needham & Company LLC from $215.00 to $265.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the information technology services provider's stock. Needham & Company LLC's price objective points to a potential upside of 13.51% from the stock's previous close.

Several other research firms have also recently weighed in on EPAM. Susquehanna reduced 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. StockNews.com downgraded shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Thursday. Citigroup increased their price objective on shares of EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a research note on Monday, October 28th. Barclays lifted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 23rd. Finally, Piper Sandler raised their price target on shares of EPAM Systems from $225.00 to $258.00 and gave the stock an "overweight" rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems presently has an average rating of "Moderate Buy" and a consensus target price of $261.50.

EPAM Systems Stock Performance

NYSE:EPAM traded up $0.53 during mid-day trading on Friday, hitting $233.45. 773,860 shares of the company's stock traded hands, compared to its average volume of 620,813. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 4.16 and a beta of 1.46. The firm has a 50 day moving average of $198.28 and a two-hundred day moving average of $198.37. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned $2.21 earnings per share. EPAM Systems's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that EPAM Systems will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has approved a share buyback 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 purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On EPAM Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 39,531 shares during the period. Pacer Advisors Inc. grew its holdings in EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider's stock worth $123,601,000 after acquiring an additional 652,515 shares during the period. TD Asset Management Inc raised its position in shares of EPAM Systems by 80.0% during the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider's stock valued at $112,017,000 after acquiring an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of EPAM Systems by 22.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider's stock valued at $139,516,000 after purchasing an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in shares of EPAM Systems in the 2nd quarter worth $84,850,000. Institutional investors own 91.58% of the company's stock.

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.