Wealth Enhancement Advisory Services LLC Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Wealth Enhancement Advisory Services LLC lifted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 143.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,306 shares of the information technology services provider’s stock after purchasing an additional 2,540 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in EPAM Systems were worth $857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in 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 worth $123,601,000 after buying an additional 652,515 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in EPAM Systems in the 2nd quarter worth about $84,850,000. TD Asset Management Inc raised its position in EPAM Systems by 80.0% in the 2nd quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares during the last quarter. Acadian Asset Management LLC raised its position in EPAM Systems by 47,294.2% in the 2nd quarter. Acadian Asset Management LLC now owns 189,103 shares of the information technology services provider’s stock worth $35,560,000 after buying an additional 188,704 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in EPAM Systems by 97.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 338,667 shares of the information technology services provider’s stock worth $63,707,000 after buying an additional 167,343 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Performance

EPAM stock opened at $202.69 on Thursday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $197.65 and its two-hundred day simple moving average is $198.13. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 4.15 and a beta of 1.46.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Analysts predict that EPAM Systems, Inc. will post 8.08 earnings per share for the current year.

EPAM Systems announced that its board has authorized a share repurchase 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on EPAM. JPMorgan Chase & Co. boosted their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target for the company. Citigroup boosted their price objective on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Susquehanna cut their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Finally, Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.89.

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.