AIA Group Ltd Makes New Investment in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• AIA Group Ltd made a new investment of approximately $419,000 in EPAM Systems, Inc., acquiring 2,484 shares during the first quarter.
• Analysts have varying ratings for EPAM, with price targets ranging from $200.00 to $275.00, indicating a consensus view of a "Moderate Buy."
• EPAM Systems reported a quarterly revenue of $1.35 billion, exceeding analysts' expectations, and showed a year-over-year revenue growth of 18.0%.

AIA Group Ltd purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,484 shares of the information technology services provider's stock, valued at approximately $419,000.

Several other hedge funds have also added to or reduced their stakes in EPAM. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 125 shares in the last quarter. Sentry Investment Management LLC acquired a new position in shares of EPAM Systems in the first quarter worth approximately $33,000. CX Institutional bought a new stake in EPAM Systems in the first quarter worth approximately $42,000. First Horizon Advisors Inc. increased its holdings in EPAM Systems by 79.5% in the first quarter. First Horizon Advisors Inc. now owns 481 shares of the information technology services provider's stock worth $81,000 after purchasing an additional 213 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in EPAM Systems by 149.2% in the first quarter. IFP Advisors Inc now owns 785 shares of the information technology services provider's stock worth $133,000 after purchasing an additional 470 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EPAM. Barclays boosted their price objective on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Needham & Company LLC upped 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. Deutsche Bank Aktiengesellschaft began coverage on EPAM Systems in a research report on Thursday, July 17th. They issued a "hold" rating and a $171.00 price objective on the stock. Stifel Nicolaus cut their price objective on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Susquehanna cut their price objective on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and an average target price of $231.73.

EPAM Systems Price Performance

NYSE EPAM traded down $1.38 during trading on Friday, reaching $157.92. The company's stock had a trading volume of 878,696 shares, compared to its average volume of 798,608. The stock has a market capitalization of $8.80 billion, a PE ratio of 22.53, a P/E/G ratio of 2.38 and a beta of 1.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a fifty day moving average of $168.12 and a 200 day moving average of $181.49. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.61 by $0.16. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%. The company's revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 EPS. Analysts expect 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.