State of Tennessee Department of Treasury Boosts Holdings in EPAM Systems, Inc. (NYSE:EPAM)

State of Tennessee Department of Treasury lifted its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 32.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,079 shares of the information technology services provider's stock after purchasing an additional 5,352 shares during the period. State of Tennessee Department of Treasury's holdings in EPAM Systems were worth $5,163,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EPAM. American Century Companies Inc. lifted its position in shares of EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after buying an additional 5,435 shares during the last quarter. Centre Asset Management LLC purchased a new stake in shares of EPAM Systems during the 4th quarter valued at approximately $8,757,000. Oliver Luxxe Assets LLC bought a new position in EPAM Systems in the 4th quarter worth approximately $1,889,000. DnB Asset Management AS lifted 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 worth $2,629,000 after acquiring an additional 2,349 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in EPAM Systems during the 4th quarter valued at about $245,000. Institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPAM. Piper Sandler downgraded EPAM Systems from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $251.00 to $170.00 in a research report on Wednesday, April 16th. 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 research note on Wednesday, April 23rd. Scotiabank decreased their target price on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Morgan Stanley raised their price objective on EPAM Systems from $230.00 to $256.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Finally, StockNews.com lowered EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and an average price target of $232.44.

EPAM Systems Stock Performance

NYSE:EPAM traded up $2.89 during trading hours on Thursday, reaching $159.80. The company had a trading volume of 198,650 shares, compared to its average volume of 693,537. The firm has a market cap of $9.12 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The business's 50 day moving average price is $171.61 and its 200-day moving average price is $212.58.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly 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). EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.21 billion. Research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

About EPAM Systems

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.