EPAM Systems, Inc. (NYSE:EPAM - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $202.69, but opened at $230.61. EPAM Systems shares last traded at $234.19, with a volume of 251,914 shares traded.
Analyst Upgrades and Downgrades
Several brokerages have commented on EPAM. JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. Citigroup upped 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 decreased their target price on EPAM Systems from $260.00 to $240.00 and set a "positive" rating for the company in a research report on Friday, August 9th. Itau BBA Securities raised EPAM Systems from an "underperform" rating to a "market perform" rating in a research report on Friday, August 9th. Finally, Barclays upped their target price on EPAM Systems from $200.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $256.63.
Read Our Latest Report on EPAM Systems
EPAM Systems Price Performance
The company has a 50 day simple moving average of $198.28 and a 200-day simple moving average of $198.37. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 4.16 and a beta of 1.46. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.
EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) 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 firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. EPAM Systems's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.
EPAM Systems announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of EPAM Systems
Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its position in shares of EPAM Systems by 1,741.1% during the 3rd quarter. Raymond James & Associates now owns 36,694 shares of the information technology services provider's stock worth $7,303,000 after purchasing an additional 34,701 shares during the period. Duality Advisers LP raised its position in shares of EPAM Systems by 60.7% during the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider's stock worth $2,970,000 after purchasing an additional 4,061 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of EPAM Systems by 251.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,128 shares of the information technology services provider's stock worth $3,807,000 after purchasing an additional 13,690 shares during the period. Diversified Trust Co acquired a new stake in shares of EPAM Systems during the 2nd quarter worth approximately $734,000. Finally, Vanguard Group Inc. raised 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 purchasing an additional 39,531 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.
EPAM Systems Company Profile
(
Get Free Report)
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.
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