Forsta AP Fonden Cuts Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Forsta AP Fonden decreased its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 9.2% in the second quarter, Holdings Channel reports. The institutional investor owned 10,800 shares of the information technology services provider’s stock after selling 1,100 shares during the quarter. Forsta AP Fonden’s holdings in EPAM Systems were worth $2,032,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Equitable Trust Co. grew its holdings in shares of EPAM Systems by 0.8% during the first quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock valued at $1,641,000 after buying an additional 46 shares during the last quarter. Czech National Bank increased its holdings in shares of EPAM Systems by 0.5% in the 1st quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after purchasing an additional 46 shares in the last quarter. Meridian Management Co. raised its stake in shares of EPAM Systems by 0.6% in the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock worth $2,372,000 after purchasing an additional 48 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares in the last quarter. Finally, Motley Fool Asset Management LLC boosted its position in shares of EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

NYSE EPAM opened at $205.46 on Tuesday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 4.48 and a beta of 1.45. The company’s 50 day moving average is $201.88 and its two-hundred day moving average is $220.28.

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 the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. As a group, research analysts anticipate that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems announced that its board has initiated a stock repurchase program 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on EPAM shares. Susquehanna decreased their target price on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective for the company. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Redburn Atlantic began coverage on shares of EPAM Systems in a research note on Friday, May 24th. They set a “neutral” rating and a $195.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.32.

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.