EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 719.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 370,191 shares of the information technology services provider's stock after purchasing an additional 325,003 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.65% of EPAM Systems worth $86,558,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EPAM. Capital World Investors increased its position in EPAM Systems by 22.0% during the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after purchasing an additional 414,942 shares during the period. Geode Capital Management LLC raised its position in EPAM Systems by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 1,349,088 shares of the information technology services provider's stock worth $314,616,000 after acquiring an additional 37,119 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in EPAM Systems by 96.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 818,881 shares of the information technology services provider's stock valued at $191,471,000 after acquiring an additional 401,355 shares during the period. Marshall Wace LLP boosted its position in shares of EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after purchasing an additional 429,644 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of EPAM Systems during the 4th quarter worth $173,053,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Up 0.6 %

Shares of NYSE EPAM opened at $159.84 on Wednesday. The stock has a fifty day moving average price of $172.65 and a 200 day moving average price of $212.97. The company has a market cap of $9.12 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.38 and a beta of 1.69. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month 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.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPAM. StockNews.com lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Barclays decreased their price objective on shares of EPAM Systems from $270.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $265.00 target price on shares of EPAM Systems in a research report on Thursday, February 20th. Guggenheim reduced their price objective on EPAM Systems from $285.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Piper Sandler downgraded shares of EPAM Systems from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $251.00 to $170.00 in a research note on Wednesday, April 16th. Eight 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, EPAM Systems has an average rating of "Moderate Buy" and an average target price of $232.44.

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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