EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in EPAM Systems, Inc. (NYSE:EPAM) by 131.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,459 shares of the information technology services provider’s stock after purchasing an additional 3,669 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in EPAM Systems were worth $1,215,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in EPAM Systems in the fourth quarter valued at $25,000. Riverview Trust Co purchased a new stake in shares of EPAM Systems in the 1st quarter valued at about $29,000. Principal Securities Inc. acquired a new stake in shares of EPAM Systems in the 4th quarter valued at about $43,000. ORG Partners LLC grew its stake in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in EPAM Systems during the second quarter worth approximately $29,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Trading Down 0.2 %

NYSE:EPAM opened at $200.76 on Tuesday. EPAM Systems, Inc. has a 52-week low of $169.43 and a 52-week high of $317.50. 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 stock has a fifty day simple moving average of $198.63 and a 200-day simple moving average of $226.74. The company has a market capitalization of $11.64 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 4.41 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last announced its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (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 net margin of 8.86% and a return on equity of 14.31%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 earnings per share. On average, equities research analysts expect that EPAM Systems, Inc. will post 8.07 earnings per share 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 buyback $500.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of EPAM Systems in a research report on Monday, June 24th. They set a “neutral” rating and a $200.00 target price on the stock. Barclays raised their price objective on shares of EPAM Systems from $200.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Mizuho reduced their target price on shares of EPAM Systems from $345.00 to $258.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group upgraded EPAM Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $202.00 to $237.00 in a research report on Tuesday, July 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $260.21.

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.