EPAM Systems, Inc. (NYSE:EPAM) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd lessened its stake in EPAM Systems, Inc. (NYSE:EPAM) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,248 shares of the information technology services provider’s stock after selling 695 shares during the quarter. Point72 DIFC Ltd’s holdings in EPAM Systems were worth $3,433,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its position in EPAM Systems by 0.7% during the fourth 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. grew its stake in shares of EPAM Systems by 0.6% during the 1st 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 during the period. Pacer Advisors Inc. increased its holdings in shares of EPAM Systems by 14,325.2% during the 2nd quarter. Pacer Advisors Inc. now owns 657,070 shares of the information technology services provider’s stock valued at $123,601,000 after purchasing an additional 652,515 shares in the last quarter. TD Asset Management Inc boosted its holdings in EPAM Systems by 80.0% during the second quarter. TD Asset Management Inc now owns 595,486 shares of the information technology services provider’s stock worth $112,017,000 after buying an additional 264,570 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in EPAM Systems by 22.6% during the first 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. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

EPAM has been the subject of a number of analyst reports. Barclays upped 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. Deutsche Bank Aktiengesellschaft assumed coverage on EPAM Systems in a research report on Thursday, August 22nd. They set a “hold” rating and a $204.00 price target on the stock. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group increased their target price on EPAM Systems from $237.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, The Goldman Sachs Group began coverage on shares of EPAM Systems in a report on Monday, June 24th. They issued a “neutral” rating and a $200.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and an average price target of $258.32.

EPAM Systems Stock Performance

Shares of EPAM stock opened at $198.45 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.84 and a current ratio of 4.84. The firm has a market cap of $11.50 billion, a P/E ratio of 27.15, a P/E/G ratio of 4.48 and a beta of 1.45. The firm’s 50 day moving average price is $203.18 and its 200-day moving average price is $215.68. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50.

EPAM Systems (NYSE:EPAM) last released 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 company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a return on equity of 14.31% and a net margin of 8.86%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, equities research analysts predict that EPAM Systems, Inc. will post 8.06 EPS for the current year.

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

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.