Nisa Investment Advisors LLC Sells 8,736 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Nisa Investment Advisors LLC reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 94.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 502 shares of the information technology services provider’s stock after selling 8,736 shares during the quarter. Nisa Investment Advisors LLC’s holdings in EPAM Systems were worth $94,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of EPAM Systems by 0.7% in the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock worth $2,289,207,000 after buying an additional 51,228 shares during the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 39,531 shares during the period. Norges Bank bought a new stake in EPAM Systems in the fourth quarter valued at $184,713,000. Mitsubishi UFJ Trust & Banking Corp increased its position 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 purchasing an additional 94,544 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in EPAM Systems by 372.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock worth $141,627,000 after purchasing an additional 375,439 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EPAM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a research note on Thursday. They set a “hold” rating and a $204.00 target price on the stock. Piper Sandler cut their price objective on EPAM Systems from $230.00 to $225.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Scotiabank lowered EPAM Systems from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $300.00 to $245.00 in a research report on Friday, May 10th. Mizuho lowered their target price on EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Finally, Susquehanna reduced their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $260.21.

EPAM Systems Trading Up 1.3 %

NYSE:EPAM opened at $199.12 on Monday. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 4.97 and a beta of 1.45. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $195.97 and its 200-day moving average price is $230.40. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50.

EPAM Systems (NYSE:EPAM) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $2.21 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that EPAM Systems, Inc. will post 7.81 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has initiated 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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.