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

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

EPAM has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of EPAM Systems in a report on Wednesday, October 8th. Cowen raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday, August 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, July 17th. They issued a “hold” rating and a $171.00 price objective for the company. Wall Street Zen downgraded EPAM Systems from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, TD Cowen upgraded EPAM Systems from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.24.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded up $7.46 on Friday, hitting $175.46. The company had a trading volume of 1,539,435 shares, compared to its average volume of 765,477. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.36 and a beta of 1.67. The stock has a 50 day moving average price of $156.87 and a 200 day moving average price of $164.98. EPAM Systems has a 1-year low of $138.15 and a 1-year high of $269.00. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 7th. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.61 by $0.16. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the firm posted $2.45 EPS. EPAM Systems’s revenue was up 18.0% compared to the same quarter last year. Analysts expect that EPAM Systems will post 8.9 EPS for the current year.

EPAM Systems declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information technology services provider to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at EPAM Systems

In other news, SVP Sergey Yezhkov sold 1,511 shares of the stock in a transaction dated Tuesday, October 21st. The stock was 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 of the company’s stock, valued at approximately $21,939.42. This represents a 91.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of EPAM Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of EPAM Systems by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,014,935 shares of the information technology services provider’s stock worth $1,057,782,000 after purchasing an additional 29,763 shares during the period. Invesco Ltd. raised its stake in EPAM Systems by 14.9% during the second quarter. Invesco Ltd. now owns 4,102,790 shares of the information technology services provider’s stock worth $725,455,000 after buying an additional 533,292 shares during the last quarter. Ameriprise Financial Inc. boosted its position in EPAM Systems by 4.1% during the first quarter. Ameriprise Financial Inc. now owns 2,270,561 shares of the information technology services provider’s stock valued at $383,267,000 after acquiring an additional 89,418 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in EPAM Systems by 98.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider’s stock valued at $274,923,000 after acquiring an additional 809,423 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in EPAM Systems by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,418,287 shares of the information technology services provider’s stock worth $250,752,000 after acquiring an additional 15,936 shares during the period. 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.