Allianz Asset Management GmbH Has $13.82 Million Position in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Allianz Asset Management GmbH has increased its holdings in EPAM Systems by 201.4%, owning approximately $13.82 million worth of stock as of its most recent SEC filing.
• EPAM Systems reported earnings of $2.41 per share for the last quarter, exceeding analysts' expectations of $2.27 and showing an increase in revenue of 11.7% year-over-year.
• Currently, EPAM Systems has an average rating of "Moderate Buy" from analysts, with a consensus target price of $231.73 for the stock.

Allianz Asset Management GmbH lifted its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 201.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,877 shares of the information technology services provider's stock after acquiring an additional 54,715 shares during the period. Allianz Asset Management GmbH owned 0.14% of EPAM Systems worth $13,824,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EPAM. Capital World Investors increased its position in EPAM Systems by 22.0% during the fourth quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after acquiring an additional 414,942 shares during the period. Ameriprise Financial Inc. grew its position in EPAM Systems by 39.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after acquiring an additional 620,551 shares during the period. Massachusetts Financial Services Co. MA grew its position in EPAM Systems by 98.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock valued at $274,923,000 after acquiring an additional 809,423 shares during the period. Geode Capital Management LLC grew 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 valued at $314,616,000 after acquiring an additional 37,119 shares during the period. Finally, Ninety One UK Ltd bought a new stake in EPAM Systems in the first quarter valued at $186,280,000. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EPAM shares. Stifel Nicolaus decreased their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Guggenheim increased their target price on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Scotiabank decreased their target price on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 29th. Susquehanna decreased their target price on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their target price on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.73.

EPAM Systems Trading Down 0.9%

EPAM Systems stock traded down $1.49 during mid-day trading on Tuesday, hitting $167.87. The stock had a trading volume of 69,518 shares, compared to its average volume of 732,321. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The stock has a 50-day simple moving average of $173.74 and a two-hundred day simple moving average of $188.60. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.51 billion, a PE ratio of 23.48, a P/E/G ratio of 2.41 and a beta of 1.70.

EPAM Systems (NYSE:EPAM - Get Free Report) last released 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 firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. As a group, sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current 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.