EPAM Systems, Inc. $EPAM Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in EPAM Systems, Inc. (NYSE:EPAM) by 29.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,844 shares of the information technology services provider’s stock after selling 12,188 shares during the period. Allspring Global Investments Holdings LLC’s holdings in EPAM Systems were worth $4,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPAM. Massachusetts Financial Services Co. MA grew its position in EPAM Systems by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,072,937 shares of the information technology services provider’s stock worth $219,823,000 after purchasing an additional 13,768 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of EPAM Systems by 289.9% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 17,297 shares of the information technology services provider’s stock worth $3,544,000 after buying an additional 12,861 shares during the period. Aikya Investment Management Ltd boosted its stake in shares of EPAM Systems by 8.4% during the fourth quarter. Aikya Investment Management Ltd now owns 763,798 shares of the information technology services provider’s stock worth $156,487,000 after buying an additional 58,977 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of EPAM Systems by 14.6% during the fourth quarter. Van Berkom & Associates Inc. now owns 423,510 shares of the information technology services provider’s stock worth $86,769,000 after buying an additional 54,075 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of EPAM Systems by 429.1% during the fourth quarter. Merit Financial Group LLC now owns 11,196 shares of the information technology services provider’s stock worth $2,294,000 after buying an additional 9,080 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

EPAM Systems Stock Up 4.4%

Shares of NYSE EPAM opened at $89.94 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.67 and a current ratio of 2.67. EPAM Systems, Inc. has a 1 year low of $73.06 and a 1 year high of $222.53. The firm’s 50 day moving average price is $90.89 and its 200 day moving average price is $131.65.

EPAM Systems (NYSE:EPAM) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.11. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company posted $2.41 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that EPAM Systems, Inc. will post 10.4 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on EPAM. Wedbush began coverage on EPAM Systems in a research note on Monday, June 15th. They issued a “neutral” rating and a $99.00 target price on the stock. Morgan Stanley set a $112.00 price objective on shares of EPAM Systems in a research note on Friday, May 8th. Wells Fargo & Company lowered their target price on shares of EPAM Systems from $151.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, July 10th. Jefferies Financial Group lowered EPAM Systems from a “buy” rating to a “hold” rating and lowered their price objective for the company from $130.00 to $110.00 in a report on Friday, May 29th. Finally, Needham & Company LLC cut their target price on EPAM Systems from $175.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, EPAM Systems has an average rating of “Hold” and a consensus price target of $134.36.

EPAM Systems Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM’s offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.