Louisiana State Employees Retirement System Sells 100 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Louisiana State Employees Retirement System decreased its stake in EPAM Systems, Inc. (NYSE:EPAM) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,200 shares of the information technology services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in EPAM Systems were worth $637,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPAM. Vanguard Group Inc. grew its position in shares of EPAM Systems by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock valued at $1,895,872,000 after purchasing an additional 39,531 shares in the last quarter. Pacer Advisors Inc. lifted its stake 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 acquiring an additional 652,515 shares during the last quarter. TD Asset Management Inc lifted its position 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 purchasing an additional 264,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of EPAM Systems by 22.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock worth $139,516,000 after buying an additional 94,544 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in EPAM Systems in the 2nd quarter worth $84,850,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Price Performance

Shares of EPAM opened at $192.21 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 firm has a market capitalization of $10.94 billion, a PE ratio of 27.54, a P/E/G ratio of 4.15 and a beta of 1.46. The stock’s 50 day moving average is $197.73 and its two-hundred day moving average is $198.48.

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. The firm 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%. EPAM Systems’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 EPS. Research analysts anticipate that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

EPAM Systems declared that its Board of Directors has initiated a share buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

EPAM has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $225.00 target price on shares of EPAM Systems in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Susquehanna lowered their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group lifted their price objective on shares of EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, Citigroup raised their target price on shares of EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.89.

EPAM Systems Company 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.