EPAM Systems (NYSE:EPAM) Given New $215.00 Price Target at JPMorgan Chase & Co.

EPAM Systems (NYSE:EPAM) had its target price boosted by JPMorgan Chase & Co. from $201.00 to $215.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

EPAM has been the topic of several other research reports. Morgan Stanley cut their price target on shares of EPAM Systems from $210.00 to $175.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of EPAM Systems in a research report on Wednesday, October 8th. 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 report on Monday, August 18th. Wells Fargo & Company upgraded EPAM Systems to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Citigroup upgraded EPAM Systems to a “hold” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.19.

EPAM Systems Trading Up 4.4%

Shares of EPAM Systems stock traded up $7.46 during trading on Friday, reaching $175.46. 1,539,664 shares of the stock were exchanged, compared to its average volume of 765,482. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.36 and a beta of 1.67. EPAM Systems has a 1 year low of $138.15 and a 1 year high of $269.00. The stock’s fifty day moving average is $156.85 and its 200 day moving average is $165.19.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $2.45 EPS. EPAM Systems’s revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts expect that EPAM Systems will post 8.9 earnings per share for the current fiscal year.

EPAM Systems announced that its board has approved a share repurchase plan on Tuesday, October 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 12.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at EPAM Systems

In other news, SVP Sergey Yezhkov sold 1,511 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $150.27, for a total value of $227,057.97. Following the completion of the sale, the senior vice president owned 146 shares in the company, valued at $21,939.42. This represents a 91.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EPAM Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPAM. IFP Advisors Inc grew its holdings in shares of EPAM Systems by 8.8% in the second quarter. IFP Advisors Inc now owns 854 shares of the information technology services provider’s stock valued at $152,000 after acquiring an additional 69 shares in the last quarter. CWM LLC boosted its position in EPAM Systems by 1.1% in the third quarter. CWM LLC now owns 6,546 shares of the information technology services provider’s stock worth $987,000 after purchasing an additional 71 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in EPAM Systems by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 4,398 shares of the information technology services provider’s stock valued at $778,000 after purchasing an additional 72 shares during the period. IFM Investors Pty Ltd increased its position in shares of EPAM Systems by 0.7% during the 1st quarter. IFM Investors Pty Ltd now owns 11,326 shares of the information technology services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares during the last quarter. Finally, Wallace Advisory Group LLC raised its stake in shares of EPAM Systems by 3.1% during the 2nd quarter. Wallace Advisory Group LLC now owns 2,522 shares of the information technology services provider’s stock worth $426,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors 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.