EPAM Systems (NYSE:EPAM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

EPAM Systems (NYSE:EPAM) had its target price boosted by stock analysts at JPMorgan Chase & Co. from $201.00 to $215.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 22.54% from the company’s current price.

Several other brokerages have also recently commented on EPAM. Citigroup upgraded shares of EPAM Systems to a “hold” rating in a report on Thursday, October 23rd. Cowen raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 18th. TD Cowen upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a report on Thursday, July 17th. They issued a “hold” rating and a $171.00 price objective for the company. Finally, Wall Street Zen lowered EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, EPAM Systems currently has an average rating of “Moderate Buy” and a consensus target price of $217.19.

EPAM Systems Stock Up 4.4%

Shares of EPAM Systems stock opened at $175.46 on Friday. The firm has a market cap of $9.77 billion, a PE ratio of 25.03, a P/E/G ratio of 2.36 and a beta of 1.67. The business’s 50 day simple moving average is $156.85 and its 200 day simple moving average is $165.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.17 and a current ratio of 3.17. EPAM Systems has a 52-week low of $138.15 and a 52-week high of $269.00.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.16. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%.The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $2.45 EPS. The business’s revenue was up 18.0% on a year-over-year basis. On average, analysts predict that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

EPAM Systems declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information technology services provider to buy up to 12.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at EPAM Systems

In other news, SVP Sergey Yezhkov sold 1,511 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $150.27, for a total value of $227,057.97. Following the sale, the senior vice president directly owned 146 shares of the company’s stock, valued at approximately $21,939.42. This represents a 91.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EPAM Systems

A number of institutional investors have recently bought and sold shares of EPAM. Manning & Napier Advisors LLC acquired a new stake in shares of EPAM Systems in the third quarter valued at approximately $25,000. CYBER HORNET ETFs LLC acquired a new position in shares of EPAM Systems during the 2nd quarter worth approximately $27,000. Sound Income Strategies LLC bought a new stake in EPAM Systems in the 2nd quarter valued at $29,000. True Wealth Design LLC raised its stake in EPAM Systems by 1,870.0% in the 3rd quarter. True Wealth Design LLC now owns 197 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 187 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in EPAM Systems during the 2nd quarter valued at $30,000. Institutional investors and hedge funds 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.