EPAM Systems (NYSE:EPAM) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of EPAM Systems (NYSE:EPAM - Free Report) from a sector perform rating to a sector outperform rating in a research report released on Monday morning, MarketBeat.com reports. Scotiabank currently has $275.00 target price on the information technology services provider's stock, up from their previous target price of $245.00.

Several other equities research analysts have also issued reports on EPAM. Jefferies Financial Group lifted their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 9th. Citigroup raised their target price on EPAM Systems from $207.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a report on Thursday, August 22nd. They set a "hold" rating and a $204.00 price objective on the stock. Needham & Company LLC boosted their target price on EPAM Systems from $215.00 to $265.00 and gave the stock a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on EPAM Systems from $222.00 to $262.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $263.00.

EPAM Systems Stock Up 5.3 %

EPAM stock traded up $12.29 during mid-day trading on Monday, hitting $245.74. The stock had a trading volume of 505,115 shares, compared to its average volume of 620,375. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 5.12 and a beta of 1.46. The company has a current ratio of 4.56, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a fifty day moving average of $198.94 and a 200 day moving average of $197.60.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued 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. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a net margin of 9.68% and a return on equity of 14.92%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 earnings per share. On average, equities analysts expect that EPAM Systems will post 8.08 EPS for the current fiscal year.

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

Institutional Investors Weigh In On EPAM Systems

Several large investors have recently modified their holdings of EPAM. Janney Montgomery Scott LLC acquired a new stake in shares of EPAM Systems in the first quarter valued at $272,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of EPAM Systems by 3.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,026 shares of the information technology services provider's stock worth $1,112,000 after acquiring an additional 147 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of EPAM Systems during the first quarter worth approximately $220,000. SG Americas Securities LLC grew its stake in shares of EPAM Systems by 58.8% during the first quarter. SG Americas Securities LLC now owns 6,981 shares of the information technology services provider's stock valued at $1,928,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in shares of EPAM Systems by 11.2% in the first quarter. Forsta AP Fonden now owns 11,900 shares of the information technology services provider's stock valued at $3,286,000 after purchasing an additional 1,200 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

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.