Citigroup Increases EPAM Systems (NYSE:EPAM) Price Target to $210.00

by · The Markets Daily

EPAM Systems (NYSE:EPAM – Free Report) had its price target upped by Citigroup from $207.00 to $210.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research note on Tuesday, October 8th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group lifted their target price 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. Finally, Susquehanna dropped their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

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EPAM Systems Stock Down 0.1 %

EPAM stock opened at $191.29 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The firm has a market capitalization of $11.09 billion, a P/E ratio of 26.17, a P/E/G ratio of 4.35 and a beta of 1.45. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50. The company’s 50 day simple moving average is $198.57 and its 200-day simple moving average is $200.67.

EPAM Systems (NYSE:EPAM – Get Free Report) last announced its earnings results 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. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. As a group, equities research analysts anticipate that EPAM Systems will post 8.08 EPS for the current year.

EPAM Systems declared that its Board of Directors has approved a stock repurchase program 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On EPAM Systems

Several hedge funds and other institutional investors have recently made changes to their positions in EPAM. Cambiar Investors LLC lifted its position in shares of EPAM Systems by 7.0% during the 3rd quarter. Cambiar Investors LLC now owns 51,446 shares of the information technology services provider’s stock worth $10,239,000 after purchasing an additional 3,372 shares during the last quarter. Norris Perne & French LLP MI increased its position in EPAM Systems by 28.1% in the 3rd quarter. Norris Perne & French LLP MI now owns 67,316 shares of the information technology services provider’s stock worth $13,398,000 after buying an additional 14,752 shares during the period. Oak Ridge Investments LLC lifted its holdings in shares of EPAM Systems by 6.8% during the third quarter. Oak Ridge Investments LLC now owns 13,492 shares of the information technology services provider’s stock worth $2,685,000 after buying an additional 855 shares during the last quarter. US Bancorp DE boosted its position in shares of EPAM Systems by 17.4% in the third quarter. US Bancorp DE now owns 9,488 shares of the information technology services provider’s stock valued at $1,888,000 after acquiring an additional 1,404 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in shares of EPAM Systems by 28.4% in the third quarter. 1620 Investment Advisors Inc. now owns 470 shares of the information technology services provider’s stock worth $94,000 after acquiring an additional 104 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

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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