Bokf Na Trims Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Bokf Na cut its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 20.3% in the 2nd quarter, Holdings Channel reports. The fund owned 6,039 shares of the information technology services provider’s stock after selling 1,538 shares during the quarter. Bokf Na’s holdings in EPAM Systems were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of EPAM Systems during the 4th quarter worth approximately $184,713,000. Manning & Napier Advisors LLC purchased a new position in shares of EPAM Systems during the 2nd quarter worth approximately $84,850,000. Price T Rowe Associates Inc. MD raised its stake in shares of EPAM Systems by 372.2% during 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 buying an additional 375,439 shares in the last quarter. TD Asset Management Inc raised its stake in shares of EPAM Systems by 80.0% during 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. Finally, Acadian Asset Management LLC raised its stake in shares of EPAM Systems by 47,294.2% during the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after buying an additional 188,704 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPAM has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. Redburn Atlantic initiated coverage on EPAM Systems in a report on Friday, May 24th. They issued a “neutral” rating and a $195.00 price target on the stock. Barclays upped their price target on EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, EPAM Systems currently has an average rating of “Hold” and an average target price of $258.32.

EPAM Systems Price Performance

Shares of NYSE:EPAM opened at $201.88 on Monday. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. The stock has a market cap of $11.50 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The business’s fifty day moving average price is $201.88 and its two-hundred day moving average price is $220.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $2.21 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, analysts forecast that EPAM Systems, Inc. will post 8.06 EPS for the current fiscal year.

EPAM Systems declared that its Board of Directors has authorized a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

EPAM Systems 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.