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

EPAM Systems (NYSE:EPAM) had its price objective increased by Mizuho from $245.00 to $282.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the stock. Scotiabank upgraded shares of EPAM Systems from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $245.00 to $275.00 in a research report on Monday. Citigroup increased their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Itau BBA Securities upgraded EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, November 8th. Needham & Company LLC increased their price target on shares of EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $264.20.

EPAM Systems Stock Up 1.2 %

Shares of NYSE EPAM opened at $248.70 on Wednesday. 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 business has a 50-day moving average of $201.76 and a 200-day moving average of $198.06. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.75 and a beta of 1.46. EPAM Systems has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems declared that its board has initiated a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at EPAM Systems

In other EPAM Systems news, CFO Jason D. Peterson sold 1,000 shares of EPAM Systems stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $237.00, for a total transaction of $237,000.00. Following the completion of the transaction, the chief financial officer now owns 24,836 shares in the company, valued at approximately $5,886,132. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On EPAM Systems

A number of institutional investors have recently made changes to their positions in EPAM. Vanguard Group Inc. boosted its stake 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 valued at $1,895,872,000 after purchasing an additional 39,531 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of EPAM Systems by 14,325.2% during the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after buying an additional 652,515 shares during the last quarter. TD Asset Management Inc increased its holdings in EPAM Systems by 80.0% in the 2nd 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. raised its position in EPAM Systems by 45.4% in the 3rd 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 during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in EPAM Systems by 22.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after acquiring an additional 94,544 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.