MBB Public Markets I LLC Invests $631,000 in EPAM Systems, Inc. (NYSE:EPAM)

MBB Public Markets I LLC bought a new position in EPAM Systems, Inc. (NYSE:EPAM) during the second quarter, Holdings Channel.com reports. The fund bought 3,354 shares of the information technology services provider’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EPAM. Pacer Advisors Inc. grew its stake in EPAM Systems by 14,325.2% in the second quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock worth $123,601,000 after purchasing an additional 652,515 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of EPAM Systems during the 2nd quarter worth $84,850,000. Price T Rowe Associates Inc. MD increased its stake in shares of EPAM Systems by 372.2% during 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 period. TD Asset Management Inc raised its holdings in shares of 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 acquiring an additional 264,570 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of EPAM Systems by 47,294.2% in the second quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock valued at $35,560,000 after acquiring an additional 188,704 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 1.3 %

NYSE:EPAM opened at $196.44 on Wednesday. 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 twelve month low of $169.43 and a twelve month high of $317.50. The company has a market cap of $11.39 billion, a PE ratio of 26.87, a P/E/G ratio of 4.36 and a beta of 1.45. The company’s 50 day moving average is $201.91 and its two-hundred day moving average is $211.93.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 EPS. Analysts anticipate that EPAM Systems, Inc. will post 8.07 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com cut shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Barclays increased their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. The Goldman Sachs Group began coverage on EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.