Seven Eight Capital LP Has $1.45 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Seven Eight Capital LP trimmed its holdings in EPAM Systems, Inc. (NYSE:EPAM) by 18.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,729 shares of the information technology services provider’s stock after selling 1,716 shares during the quarter. Seven Eight Capital LP’s holdings in EPAM Systems were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Equitable Trust Co. lifted its stake in EPAM Systems by 0.8% in the first quarter. Equitable Trust Co. now owns 5,941 shares of the information technology services provider’s stock valued at $1,641,000 after buying an additional 46 shares during the period. Czech National Bank boosted its stake in EPAM Systems by 0.5% during the first quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock worth $2,804,000 after acquiring an additional 46 shares in the last quarter. Meridian Management Co. grew its holdings in EPAM Systems by 0.6% in the fourth quarter. Meridian Management Co. now owns 8,287 shares of the information technology services provider’s stock worth $2,372,000 after purchasing an additional 48 shares during the period. Retirement Systems of Alabama increased its stake in EPAM Systems by 0.4% in the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock valued at $2,406,000 after purchasing an additional 52 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its holdings in shares of EPAM Systems by 5.2% during the first quarter. Motley Fool Asset Management LLC now owns 1,124 shares of the information technology services provider’s stock valued at $310,000 after purchasing an additional 56 shares during the period. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Price Performance

EPAM Systems stock opened at $198.15 on Friday. EPAM Systems, Inc. has a 52 week low of $169.43 and a 52 week high of $317.50. The company’s 50 day moving average price is $202.95 and its two-hundred day moving average price is $218.69. The stock has a market cap of $11.49 billion, a P/E ratio of 27.11, a P/E/G ratio of 4.48 and a beta of 1.45. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. EPAM Systems’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. On average, equities analysts predict that EPAM Systems, Inc. will post 8.06 earnings per share for the current year.

EPAM Systems declared that its board has authorized a stock buyback plan 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 reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

EPAM has been the subject of several research reports. Jefferies Financial Group raised their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Barclays raised their price objective on EPAM Systems from $200.00 to $225.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price on the stock. Finally, StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.32.

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.