CX Institutional Takes $42,000 Position in EPAM Systems, Inc. (NYSE:EPAM)

CX Institutional purchased a new stake in EPAM Systems, Inc. (NYSE:EPAM) in the first quarter, Holdings Channel reports. The firm purchased 250 shares of the information technology services provider’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of EPAM Systems by 90.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. Sentry Investment Management LLC purchased a new position in EPAM Systems during the first quarter valued at approximately $33,000. TD Private Client Wealth LLC raised its stake in EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after buying an additional 69 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in EPAM Systems during the fourth quarter worth $49,000. Institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 2.2%

NYSE:EPAM opened at $168.79 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a market cap of $9.56 billion, a PE ratio of 23.61, a P/E/G ratio of 2.29 and a beta of 1.72. The company’s 50 day moving average is $167.91 and its two-hundred day moving average is $202.60.

EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays lifted their price target on EPAM Systems from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Scotiabank dropped their price objective on EPAM Systems from $250.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 29th. Stifel Nicolaus reduced their target price on shares of EPAM Systems from $275.00 to $240.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Guggenheim increased their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Piper Sandler lifted their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.93.

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.