Sompo Asset Management Co. Ltd. Increases Stake in EPAM Systems, Inc. (NYSE:EPAM)

Sompo Asset Management Co. Ltd. increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 46.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,420 shares of the information technology services provider’s stock after buying an additional 1,400 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in EPAM Systems were worth $831,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of EPAM Systems by 14,325.2% in the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of EPAM Systems during the second quarter worth $84,850,000. Price T Rowe Associates Inc. MD increased its holdings in EPAM Systems by 372.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after buying an additional 375,439 shares during the last quarter. TD Asset Management Inc raised its stake in EPAM Systems by 80.0% in the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock valued at $112,017,000 after buying an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in 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 during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

NYSE:EPAM opened at $197.00 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The firm’s fifty day moving average price is $203.20 and its 200 day moving average price is $217.78. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $2.21 EPS. The business’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts expect that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems announced that its board has approved a stock repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EPAM shares. JPMorgan Chase & Co. raised their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Itau BBA Securities raised shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Barclays increased their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Susquehanna reduced their price target on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Finally, Redburn Atlantic assumed coverage on shares of EPAM Systems in a research note on Friday, May 24th. They issued a “neutral” rating and a $195.00 price objective for the company. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company 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.