EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its stake in EPAM Systems, Inc. (NYSE:EPAM) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,579 shares of the information technology services provider’s stock after buying an additional 90 shares during the period. Asset Management One Co. Ltd.’s holdings in EPAM Systems were worth $4,295,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in EPAM Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,865,123 shares of the information technology services provider’s stock worth $1,895,872,000 after buying an additional 39,531 shares during the period. Pacer Advisors Inc. increased its position 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 buying an additional 652,515 shares during the period. TD Asset Management Inc increased 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 worth $112,017,000 after buying an additional 264,570 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in 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 acquired a new position in shares of EPAM Systems during the second quarter valued at $84,850,000. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Trading Up 0.2 %

NYSE:EPAM opened at $233.45 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 4.84. EPAM Systems, Inc. has a fifty-two week low of $169.43 and a fifty-two week high of $317.50. The stock’s 50-day moving average is $198.94 and its two-hundred day moving average is $198.28. The stock has a market cap of $13.29 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 4.16 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, beating the consensus estimate of $2.26 by $0.19. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $2.21 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that EPAM Systems, Inc. will post 8.08 earnings per share for the current fiscal year.

EPAM Systems declared that its board has authorized a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group raised their price target on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 9th. Itau BBA Securities raised EPAM Systems from a “market perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a research note on Thursday, August 22nd. They set a “hold” rating and a $204.00 target price for the company. Piper Sandler raised their target price on EPAM Systems from $225.00 to $258.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC raised their target price on EPAM Systems from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems has an average rating of “Moderate Buy” and an average target price of $261.50.

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.