Canada Pension Plan Investment Board Purchases 15,965 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Canada Pension Plan Investment Board increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 51.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,893 shares of the information technology services provider’s stock after buying an additional 15,965 shares during the period. Canada Pension Plan Investment Board’s holdings in EPAM Systems were worth $8,821,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new stake in EPAM Systems in the first quarter worth $29,000. ORG Partners LLC grew its holdings in EPAM Systems by 5,000.0% in the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares during the period. Opal Wealth Advisors LLC acquired a new stake in EPAM Systems in the second quarter worth $29,000. Whittier Trust Co. acquired a new stake in EPAM Systems in the first quarter worth $64,000. Finally, Mather Group LLC. acquired a new stake in EPAM Systems in the first quarter worth $87,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $200.22 on Wednesday. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 4.48 and a beta of 1.45. 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, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The firm’s 50-day simple moving average is $203.00 and its two-hundred day simple moving average is $214.91.

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, 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems announced that its board has authorized a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

EPAM has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Susquehanna reduced their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price objective for the company. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.32.

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.