Driehaus Capital Management LLC Takes $33.66 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Driehaus Capital Management LLC purchased a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 143,971 shares of the information technology services provider's stock, valued at approximately $33,663,000. Driehaus Capital Management LLC owned about 0.25% of EPAM Systems at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aurora Investment Counsel boosted its stake in shares of EPAM Systems by 0.7% during the 4th quarter. Aurora Investment Counsel now owns 6,101 shares of the information technology services provider's stock worth $1,427,000 after acquiring an additional 45 shares in the last quarter. UniSuper Management Pty Ltd boosted 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 purchasing an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock valued at $27,000 after buying an additional 54 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position 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 valued at $343,000 after buying an additional 69 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of EPAM Systems by 88.5% during the 4th 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 during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Stock Up 5.4%

Shares of EPAM traded up $9.51 during trading hours on Monday, hitting $186.61. 710,446 shares of the company were exchanged, compared to its average volume of 687,163. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The firm's 50 day moving average is $165.80 and its 200-day moving average is $211.18. The company has a market cap of $10.65 billion, a PE ratio of 23.80, a PEG ratio of 3.38 and a beta of 1.71. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. EPAM Systems's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

EPAM has been the topic of several research analyst reports. StockNews.com cut EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Scotiabank reduced their price objective on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. 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 research note on Tuesday, January 21st. Piper Sandler increased their target price on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Barclays boosted their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $231.50.

EPAM Systems 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.