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

EPAM Systems (NYSE:EPAM) had its target price hoisted by equities research analysts at Mizuho from $245.00 to $282.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price target suggests a potential upside of 19.83% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Barclays boosted their price target on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, November 8th. StockNews.com cut EPAM Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, EPAM Systems has an average rating of “Moderate Buy” and a consensus price target of $264.20.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded down $9.52 during midday trading on Wednesday, reaching $235.34. The company had a trading volume of 93,425 shares, compared to its average volume of 620,428. The company’s 50 day moving average price is $202.58 and its 200 day moving average price is $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. The stock has a market cap of $13.35 billion, a P/E ratio of 31.80, a P/E/G ratio of 3.81 and a beta of 1.46. EPAM Systems has a 52-week low of $169.43 and a 52-week high of $317.50.

EPAM Systems declared that its board has authorized a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 $5,886,132. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Trading of EPAM Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in EPAM Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after buying an additional 39,531 shares in the last quarter. Pacer Advisors Inc. boosted its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after buying an additional 652,515 shares in the last quarter. TD Asset Management Inc boosted its stake in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in EPAM Systems by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 515,351 shares of the information technology services provider’s stock worth $102,570,000 after buying an additional 160,989 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after buying an additional 94,544 shares in the last quarter. Hedge funds and other institutional investors 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.