EPAM Systems, Inc. (NYSE:EPAM) Stock Position Decreased by Empirical Finance LLC

Empirical Finance LLC lowered its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,295 shares of the information technology services provider’s stock after selling 99 shares during the period. Empirical Finance LLC’s holdings in EPAM Systems were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EPAM. Charles Schwab Investment Management Inc. lifted its holdings in shares of EPAM Systems by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,211 shares of the information technology services provider’s stock worth $117,215,000 after purchasing an additional 17,609 shares during the last quarter. Versor Investments LP acquired a new position in shares of EPAM Systems during the fourth quarter valued at $357,000. Price T Rowe Associates Inc. MD grew its position in shares of EPAM Systems by 372.2% during the fourth 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 acquiring an additional 375,439 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of EPAM Systems in the 4th quarter worth about $285,000. Finally, Duality Advisers LP lifted its position in EPAM Systems by 60.7% in the 1st quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock valued at $2,970,000 after purchasing an additional 4,061 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays upped their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC lowered their price target on EPAM Systems from $350.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 10th. TD Cowen dropped their price target on shares of EPAM Systems from $282.00 to $203.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group raised EPAM Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $202.00 to $237.00 in a research note on Tuesday, July 16th. Finally, Mizuho reduced their price objective on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of “Hold” and a consensus price target of $260.21.

EPAM Systems Stock Performance

Shares of EPAM opened at $200.76 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.68 and a current ratio of 4.68. The company has a market capitalization of $11.64 billion, a PE ratio of 27.46, a PEG ratio of 4.97 and a beta of 1.45. The company’s 50 day moving average price is $198.28 and its 200 day moving average price is $227.81.

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 analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.95% and a net margin of 9.28%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts expect that EPAM Systems, Inc. will post 7.81 EPS for the current fiscal year.

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

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.