Ensign Peak Advisors Inc Sells 50,579 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Ensign Peak Advisors Inc reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 31.2% during the second quarter, HoldingsChannel.com reports. The fund owned 111,297 shares of the information technology services provider’s stock after selling 50,579 shares during the quarter. Ensign Peak Advisors Inc’s holdings in EPAM Systems were worth $20,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of EPAM Systems by 372.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 476,311 shares of the information technology services provider’s stock valued at $141,627,000 after purchasing an additional 375,439 shares during the last quarter. Intech Investment Management LLC bought a new position in EPAM Systems during the fourth quarter valued at about $285,000. Duality Advisers LP increased its holdings in EPAM Systems by 60.7% during the first quarter. Duality Advisers LP now owns 10,754 shares of the information technology services provider’s stock worth $2,970,000 after buying an additional 4,061 shares during the last quarter. Allianz Asset Management GmbH raised its position in EPAM Systems by 12.7% in the fourth quarter. Allianz Asset Management GmbH now owns 60,126 shares of the information technology services provider’s stock worth $17,878,000 after acquiring an additional 6,798 shares during the period. Finally, Diversified Trust Co purchased a new position in EPAM Systems in the second quarter valued at about $734,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. JPMorgan Chase & Co. increased their price target on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Itau BBA Securities upgraded shares of EPAM Systems from an “underperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group initiated coverage on shares of EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 price target on the stock. Ten research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.32.

EPAM Systems Stock Performance

NYSE:EPAM opened at $197.00 on Monday. The stock has a market cap of $11.42 billion, a P/E ratio of 26.95, a PEG 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. The business’s 50-day moving average price is $203.20 and its two-hundred day moving average price is $216.50. EPAM Systems, Inc. has a twelve month low of $169.43 and a twelve month high of $317.50.

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

EPAM Systems declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.