EPAM Systems (NYSE:EPAM - Free Report) had its target price raised by Mizuho from $245.00 to $282.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the information technology services provider's stock.
A number of other research firms have also recently weighed in on EPAM. Susquehanna upped their price target on EPAM Systems from $240.00 to $270.00 and gave the stock a "positive" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised 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. Piper Sandler raised their price objective on EPAM Systems from $225.00 to $258.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Itau BBA Securities upgraded EPAM Systems from a "market perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a "hold" rating and a $204.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $264.20.
Read Our Latest Stock Analysis on EPAM Systems
EPAM Systems Stock Up 1.2 %
Shares of EPAM Systems stock traded up $2.95 on Wednesday, reaching $248.70. 666,894 shares of the company were exchanged, compared to its average volume of 622,531. The company has a market cap of $14.11 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 3.75 and a beta of 1.46. The stock's 50 day moving average price is $200.80 and its 200-day moving average price is $197.70. EPAM Systems has a 1-year low of $169.43 and a 1-year high of $317.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.56.
EPAM Systems announced that its board has authorized a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.
Insider Activity at EPAM Systems
In related news, CFO Jason D. Peterson sold 1,000 shares of the company'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 completion of the sale, the chief financial officer now owns 24,836 shares of the company's stock, valued at $5,886,132. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On EPAM Systems
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC lifted its position 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 valued at $28,000 after acquiring an additional 150 shares during the period. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $29,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of 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 raised its holdings in EPAM Systems by 101.0% during the third quarter. Farther Finance Advisors LLC now owns 211 shares of the information technology services provider's stock worth $42,000 after buying an additional 106 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of EPAM Systems during the third quarter worth about $44,000. Institutional investors own 91.58% of the company's stock.
About EPAM Systems
(
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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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