EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lessened its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,665 shares of the information technology services provider’s stock after selling 1,160 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in EPAM Systems were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Equitable Trust Co. boosted its stake in shares of EPAM Systems by 0.8% during 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 acquiring an additional 46 shares during the last quarter. Czech National Bank lifted its holdings in EPAM Systems by 0.5% in the 1st quarter. Czech National Bank now owns 10,152 shares of the information technology services provider’s stock valued at $2,804,000 after purchasing an additional 46 shares in the last quarter. Meridian Management Co. boosted its stake in shares of EPAM Systems by 0.6% during the 4th 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 last quarter. Retirement Systems of Alabama grew its holdings in shares of EPAM Systems by 0.4% during the second quarter. Retirement Systems of Alabama now owns 12,788 shares of the information technology services provider’s stock worth $2,406,000 after buying an additional 52 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of EPAM Systems by 5.2% in 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 buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Up 0.7 %

Shares of NYSE:EPAM opened at $198.45 on Tuesday. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The company has a 50 day moving average of $203.18 and a two-hundred day moving average of $215.68. 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.

EPAM Systems (NYSE:EPAM) last released its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. As a group, analysts forecast that EPAM Systems, Inc. will post 8.06 earnings per share for the current fiscal year.

EPAM Systems announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

EPAM has been the topic of a number of analyst reports. StockNews.com upgraded shares of EPAM Systems from a “hold” rating to a “buy” rating in a research report on Monday, September 16th. Susquehanna decreased their price objective on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Itau BBA Securities upgraded EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $225.00 price target on shares of EPAM Systems in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.