Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EPAM Systems, Inc. (NYSE:EPAM – Free Report) by 53.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,766 shares of the information technology services provider’s stock after purchasing an additional 1,662 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in EPAM Systems were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in EPAM Systems by 5,000.0% during the 2nd quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 150 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of EPAM Systems in the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of 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 acquiring an additional 100 shares during the period. Whittier Trust Co. purchased a new position in shares of EPAM Systems in the 1st quarter valued at $64,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of EPAM Systems in the 2nd quarter valued at $69,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on EPAM. Susquehanna cut their price target on EPAM Systems from $260.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Citigroup lifted their price target on EPAM Systems from $207.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, October 28th. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft initiated coverage on EPAM Systems in a report on Thursday, August 22nd. They issued a “hold” rating and a $204.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $225.00 target price on shares of EPAM Systems in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.89.
EPAM Systems Stock Performance
Shares of EPAM opened at $189.13 on Friday. The stock has a 50-day moving average of $198.06 and a two-hundred day moving average of $200.05. EPAM Systems, Inc. has a one year low of $169.43 and a one year high of $317.50. 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 stock has a market cap of $10.77 billion, a P/E ratio of 27.10, a P/E/G ratio of 4.15 and a beta of 1.45.
EPAM Systems (NYSE:EPAM – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.19. The business had revenue of $1.15 billion during 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 company’s revenue for the quarter 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, research analysts predict that EPAM Systems, Inc. will post 8.08 EPS for the current year.
EPAM Systems declared that its Board of Directors has initiated a stock buyback plan 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 buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is 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.
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