Adage Capital Partners GP L.L.C. Purchases 24,300 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Adage Capital Partners GP L.L.C. grew its holdings in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 84.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,000 shares of the information technology services provider's stock after acquiring an additional 24,300 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of EPAM Systems worth $12,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Aurora Investment Counsel boosted its holdings in shares of EPAM Systems by 0.7% in the fourth quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider's stock valued at $1,427,000 after acquiring an additional 45 shares during the period. UniSuper Management Pty Ltd grew its position in EPAM Systems by 0.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider's stock worth $3,655,000 after buying an additional 52 shares during the period. EverSource Wealth Advisors LLC boosted its position in EPAM Systems by 90.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares in the last quarter. SkyView Investment Advisors LLC raised its position in EPAM Systems by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,055 shares of the information technology services provider's stock worth $409,000 after acquiring an additional 60 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in shares of EPAM Systems by 4.9% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 1,465 shares of the information technology services provider's stock worth $343,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

EPAM has been the subject of several analyst reports. Barclays cut their price target on EPAM Systems from $270.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and issued a $265.00 target price on shares of EPAM Systems in a research note on Thursday, February 20th. Jefferies Financial Group decreased their price objective on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Scotiabank dropped their target price on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Finally, Piper Sandler downgraded shares of EPAM Systems from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $251.00 to $170.00 in a research report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.44.

EPAM Systems Stock Performance

EPAM traded up $1.55 on Thursday, hitting $158.46. 686,064 shares of the stock traded hands, compared to its average volume of 695,330. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company has a current ratio of 2.96, a quick ratio of 4.56 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $171.61 and a two-hundred day moving average price of $212.58. The firm has a market capitalization of $9.04 billion, a PE ratio of 20.21, a P/E/G ratio of 3.38 and a beta of 1.69.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.52). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. On average, research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

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.