Mutual of America Capital Management LLC Sells 255 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Mutual of America Capital Management LLC lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,893 shares of the information technology services provider’s stock after selling 255 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EPAM Systems were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. purchased a new stake in shares of EPAM Systems during the fourth quarter valued at approximately $210,000. Corient Private Wealth LLC increased its holdings in shares of EPAM Systems by 62.8% in the 4th quarter. Corient Private Wealth LLC now owns 3,462 shares of the information technology services provider’s stock worth $1,029,000 after purchasing an additional 1,336 shares in the last quarter. US Bancorp DE raised its stake in shares of EPAM Systems by 144.5% in the fourth quarter. US Bancorp DE now owns 7,076 shares of the information technology services provider’s stock worth $2,104,000 after purchasing an additional 4,182 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of EPAM Systems by 5.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 14,992 shares of the information technology services provider’s stock valued at $4,458,000 after purchasing an additional 785 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of EPAM Systems during the fourth quarter valued at $285,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Stock Performance

NYSE:EPAM opened at $196.18 on Thursday. The stock has a 50-day moving average price of $202.70 and a 200 day moving average price of $214.78. The stock has a market capitalization of $11.17 billion, a P/E ratio of 26.84, a P/E/G ratio of 4.36 and a beta of 1.45. EPAM Systems, Inc. has a 12-month low of $169.43 and a 12-month high of $317.50. 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 (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EPAM shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price on the stock. Barclays lifted their target price on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. StockNews.com lowered EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.