Bank of New York Mellon Corp Trims Holdings in EPAM Systems, Inc. $EPAM

Bank of New York Mellon Corp trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,424 shares of the information technology services provider’s stock after selling 19,766 shares during the quarter. Bank of New York Mellon Corp’s holdings in EPAM Systems were worth $39,053,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its holdings in shares of EPAM Systems by 4,233.3% in the fourth quarter. Sunbelt Securities Inc. now owns 130 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 127 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in EPAM Systems during the 2nd quarter valued at about $27,000. MUFG Securities EMEA plc purchased a new stake in EPAM Systems in the 2nd quarter valued at about $30,000. Sound Income Strategies LLC boosted its position in EPAM Systems by 279.5% in the 4th quarter. Sound Income Strategies LLC now owns 148 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Finally, 1248 Management LLC bought a new position in EPAM Systems in the 4th quarter worth about $32,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

EPAM Systems Trading Up 4.4%

NYSE:EPAM opened at $89.94 on Friday. The firm has a 50-day simple moving average of $90.89 and a 200-day simple moving average of $131.65. EPAM Systems, Inc. has a one year low of $73.06 and a one year high of $222.53. The firm has a market cap of $4.70 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.85 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 (NYSE:EPAM) last released its quarterly earnings data on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.11. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.41 earnings per share. Equities analysts anticipate that EPAM Systems, Inc. will post 10.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EPAM shares. TD Cowen reduced their target price on shares of EPAM Systems from $170.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Citigroup reiterated a “cautious” rating on shares of EPAM Systems in a report on Friday, May 29th. Morgan Stanley set a $112.00 price objective on EPAM Systems in a research note on Friday, May 8th. Wells Fargo & Company reduced their price objective on EPAM Systems from $151.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, July 10th. Finally, Wedbush initiated coverage on EPAM Systems in a research report on Monday, June 15th. They set a “neutral” rating and a $99.00 target price for the company. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.36.

About EPAM Systems

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.