iA Global Asset Management Inc. Takes $262,000 Position in EPAM Systems, Inc. (NYSE:EPAM)

iA Global Asset Management Inc. acquired a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,395 shares of the information technology services provider’s stock, valued at approximately $262,000.

Several other hedge funds have also modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of EPAM Systems by 131.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 6,459 shares of the information technology services provider’s stock valued at $1,215,000 after acquiring an additional 3,669 shares in the last quarter. Taylor Frigon Capital Management LLC raised its stake in shares of EPAM Systems by 0.5% in the second quarter. Taylor Frigon Capital Management LLC now owns 12,339 shares of the information technology services provider’s stock valued at $2,321,000 after acquiring an additional 56 shares in the last quarter. F M Investments LLC acquired a new stake in shares of EPAM Systems in the second quarter valued at $1,880,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of EPAM Systems by 4.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,014 shares of the information technology services provider’s stock valued at $2,072,000 after acquiring an additional 492 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in EPAM Systems by 0.6% in the second quarter. State of Michigan Retirement System now owns 15,927 shares of the information technology services provider’s stock valued at $2,996,000 after buying an additional 100 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Performance

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

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data 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. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 9.28% and a return on equity of 14.95%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. On average, equities research analysts expect that EPAM Systems, Inc. will post 7.81 earnings per share for the current year.

EPAM Systems announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

EPAM has been the topic of a number of analyst reports. Redburn Atlantic initiated coverage on EPAM Systems in a research note on Friday, May 24th. They issued a “neutral” rating and a $195.00 price target on the stock. Mizuho cut their price target on EPAM Systems from $345.00 to $258.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a research note on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Susquehanna cut 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. Finally, Needham & Company LLC cut their price target on EPAM Systems from $350.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $260.21.

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.