Sei Investments Co. Has $4.79 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Sei Investments Co. increased its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 37.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,432 shares of the information technology services provider’s stock after acquiring an additional 6,914 shares during the period. Sei Investments Co.’s holdings in EPAM Systems were worth $4,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EPAM. Corient Private Wealth LLC lifted its stake in 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 valued at $1,029,000 after purchasing an additional 1,336 shares during the last quarter. Bank of Nova Scotia lifted its stake in EPAM Systems by 33.6% in the 4th quarter. Bank of Nova Scotia now owns 7,159 shares of the information technology services provider’s stock valued at $2,129,000 after purchasing an additional 1,799 shares during the last quarter. California State Teachers Retirement System lifted its stake in EPAM Systems by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 90,276 shares of the information technology services provider’s stock valued at $26,843,000 after purchasing an additional 979 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in EPAM Systems by 6.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 42,683 shares of the information technology services provider’s stock valued at $12,691,000 after purchasing an additional 2,702 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new position in EPAM Systems in the 4th quarter valued at approximately $243,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Trading 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. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 4.36 and a beta of 1.45. The firm has a fifty day simple moving average of $201.91 and a two-hundred day simple moving average of $211.93. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50.

EPAM Systems (NYSE:EPAM) last posted 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company posted $2.21 earnings per share. Analysts expect that EPAM Systems, Inc. will post 8.07 EPS for the current fiscal year.

EPAM Systems announced that its board has approved a share repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

EPAM has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of EPAM Systems in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, StockNews.com downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, EPAM Systems presently has a consensus rating of “Hold” 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.