EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in shares of EPAM Systems, Inc. (NYSE:EPAM) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,813 shares of the information technology services provider’s stock after buying an additional 102 shares during the period. Gateway Investment Advisers LLC’s holdings in EPAM Systems were worth $560,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its position in EPAM Systems by 181.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 155 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Tobam raised its stake in EPAM Systems by 196.0% during the third quarter. Tobam now owns 16,760 shares of the information technology services provider’s stock worth $3,336,000 after acquiring an additional 11,098 shares during the period. Perpetual Ltd acquired a new stake in EPAM Systems during the third quarter worth about $272,000. CWM LLC raised its stake in EPAM Systems by 112.8% during the third quarter. CWM LLC now owns 3,951 shares of the information technology services provider’s stock worth $786,000 after acquiring an additional 2,094 shares during the period. Finally, MBM Wealth Consultants LLC raised its stake in EPAM Systems by 8.8% during the third quarter. MBM Wealth Consultants LLC now owns 5,555 shares of the information technology services provider’s stock worth $1,106,000 after acquiring an additional 448 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EPAM. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 target price for the company. Susquehanna lowered their price objective on shares of EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of EPAM Systems from $222.00 to $262.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group assumed coverage on shares of EPAM Systems in a research note on Monday, June 24th. They set a “neutral” rating and a $200.00 target price for the company. Finally, StockNews.com raised shares of EPAM Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, EPAM Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.32.

EPAM Systems Stock Performance

Shares of EPAM opened at $195.03 on Monday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The firm has a fifty day simple moving average of $199.18 and a 200 day simple moving average of $206.37. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 4.26 and a beta of 1.45. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM) last posted its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.19. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. EPAM Systems’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 EPS. Research analysts forecast that EPAM Systems, Inc. will post 8.08 EPS for the current fiscal year.

EPAM Systems declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

EPAM Systems Company 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.