EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Quest Partners LLC

Quest Partners LLC cut its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 83.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 472 shares of the information technology services provider’s stock after selling 2,373 shares during the quarter. Quest Partners LLC’s holdings in EPAM Systems were worth $89,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in shares of EPAM Systems by 0.7% during the 4th quarter. Capital Research Global Investors now owns 7,698,930 shares of the information technology services provider’s stock valued at $2,289,207,000 after acquiring an additional 51,228 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of EPAM Systems by 0.6% during 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 purchasing an additional 39,531 shares in the last quarter. Norges Bank purchased a new stake in shares of EPAM Systems in the fourth quarter worth about $184,713,000. TD Asset Management Inc grew its stake in shares of 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 buying an additional 264,570 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of EPAM Systems by 22.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 512,353 shares of the information technology services provider’s stock valued at $139,516,000 after buying an additional 94,544 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Down 2.5 %

Shares of NYSE:EPAM opened at $200.40 on Wednesday. The company’s fifty day moving average is $202.27 and its two-hundred day moving average is $219.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. EPAM Systems, Inc. has a 1-year low of $169.43 and a 1-year high of $317.50. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.19. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. EPAM Systems’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems declared that its Board of Directors has approved a share buyback 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 repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on EPAM. JPMorgan Chase & Co. upped their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. 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. The Goldman Sachs Group began coverage on shares of EPAM Systems in a research report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price objective for the company. StockNews.com raised EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group increased 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. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.32.

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.