Bank of America Corp DE Has $60.10 Million Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Bank of America Corp DE lowered its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 11.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 257,037 shares of the information technology services provider's stock after selling 34,408 shares during the period. Bank of America Corp DE owned approximately 0.45% of EPAM Systems worth $60,100,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EPAM. American Century Companies Inc. lifted its holdings in shares of EPAM Systems by 35.8% in the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after purchasing an additional 5,435 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of EPAM Systems in the fourth quarter valued at approximately $1,889,000. DnB Asset Management AS increased its position in shares of EPAM Systems by 26.4% during the fourth quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock valued at $2,629,000 after acquiring an additional 2,349 shares during the last quarter. Merit Financial Group LLC bought a new stake in EPAM Systems during the fourth quarter worth $245,000. Finally, Pinebridge Investments L.P. grew its stake in EPAM Systems by 66.6% in the 4th quarter. Pinebridge Investments L.P. now owns 18,953 shares of the information technology services provider's stock valued at $4,432,000 after purchasing an additional 7,576 shares during the period. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Trading Up 0.6%

Shares of EPAM stock opened at $187.81 on Wednesday. The company has a 50 day moving average price of $165.34 and a 200 day moving average price of $210.99. The stock has a market capitalization of $10.72 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.14. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The company's revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. Equities research analysts predict that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays lifted their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday. Piper Sandler increased their target price 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. Susquehanna cut their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group lowered their target price on shares of EPAM Systems from $305.00 to $288.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. Finally, Needham & Company LLC raised their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $231.50.

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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