Allspring Global Investments Holdings LLC Has $2.74 Million Holdings in EPAM Systems, Inc. $EPAM

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in EPAM Systems by 25.4%, holding a total of 15,301 shares valued at approximately $2.74 million as of its latest SEC filing.
• EPAM Systems reported earnings of $2.77 per share, exceeding analysts' expectations, and had a revenue of $1.35 billion for the quarter, marking an 18.0% increase year-over-year.
• The company announced a share buyback program allowing it to repurchase up to $1.00 billion in shares, signaling the board's belief that the stock is undervalued.

Allspring Global Investments Holdings LLC lessened its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 25.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,301 shares of the information technology services provider's stock after selling 5,221 shares during the period. Allspring Global Investments Holdings LLC's holdings in EPAM Systems were worth $2,739,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in EPAM. Sound Income Strategies LLC acquired a new stake in EPAM Systems in the second quarter valued at approximately $29,000. Blue Trust Inc. grew its stake in EPAM Systems by 40.5% in the second quarter. Blue Trust Inc. now owns 333 shares of the information technology services provider's stock valued at $59,000 after acquiring an additional 96 shares during the period. Parallel Advisors LLC grew its stake in EPAM Systems by 215.5% in the second quarter. Parallel Advisors LLC now owns 366 shares of the information technology services provider's stock valued at $65,000 after acquiring an additional 250 shares during the period. UMB Bank n.a. grew its stake in EPAM Systems by 275.0% in the second quarter. UMB Bank n.a. now owns 390 shares of the information technology services provider's stock valued at $69,000 after acquiring an additional 286 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of 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 valued at $81,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Performance

Shares of EPAM Systems stock opened at $155.11 on Wednesday. The business's fifty day simple moving average is $158.44 and its 200 day simple moving average is $163.98. The firm has a market capitalization of $8.64 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.65. 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 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.61 by $0.16. EPAM Systems had a return on equity of 14.00% and a net margin of 7.91%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $2.45 earnings per share. The business's revenue for the quarter was up 18.0% on a year-over-year basis. EPAM Systems has set its FY 2025 guidance at 10.960-11.120 EPS. Q3 2025 guidance at 2.980-3.060 EPS. As a group, analysts anticipate that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems announced that its board has initiated a share buyback program on Tuesday, October 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information technology services provider to purchase up to 12.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EPAM. JPMorgan Chase & Co. dropped their target price on EPAM Systems from $205.00 to $201.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Wells Fargo & Company began coverage on EPAM Systems in a report on Tuesday. They issued an "overweight" rating and a $185.00 target price on the stock. Wall Street Zen lowered EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. TD Cowen upgraded EPAM Systems from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Monday, August 18th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of EPAM Systems in a report on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.76.

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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