Mizuho Raises EPAM Systems (NYSE:EPAM) Price Target to $282.00

EPAM Systems (NYSE:EPAM) had its price objective lifted by stock analysts at Mizuho from $245.00 to $282.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price target would suggest a potential upside of 19.83% from the company’s current price.

EPAM has been the topic of several other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Jefferies Financial Group lifted their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Itau BBA Securities upgraded shares of EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, November 8th. Finally, Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $245.00 to $275.00 in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Trading Down 3.9 %

NYSE:EPAM traded down $9.52 during mid-day trading on Wednesday, hitting $235.34. 93,425 shares of the company’s stock were exchanged, compared to its average volume of 620,428. The company has a 50 day simple moving average of $202.58 and a 200-day simple moving average of $198.38. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. EPAM Systems has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The firm has a market capitalization of $13.35 billion, a P/E ratio of 31.80, a PEG ratio of 3.81 and a beta of 1.46.

EPAM Systems announced that its board has initiated a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at EPAM Systems

In related news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $237.00, for a total value 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 approximately $5,886,132. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.

Institutional Trading of EPAM Systems

Several hedge funds have recently bought and sold shares of EPAM. Geneva Capital Management LLC boosted its holdings in EPAM Systems by 6.0% during the 3rd quarter. Geneva Capital Management LLC now owns 71,281 shares of the information technology services provider’s stock worth $14,187,000 after acquiring an additional 4,027 shares during the last quarter. Raymond James & Associates boosted its holdings in 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 acquiring an additional 34,701 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 acquiring an additional 13,690 shares during the last quarter. Diversified Trust Co purchased a new position in EPAM Systems during the 2nd quarter worth $734,000. Finally, Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 39,531 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Company Profile

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.