Allspring Global Investments Holdings LLC Sells 26,233 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Allspring Global Investments Holdings LLC decreased its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 56.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,522 shares of the information technology services provider's stock after selling 26,233 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in EPAM Systems were worth $3,438,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EPAM. EverSource Wealth Advisors LLC increased its position in shares of EPAM Systems by 90.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider's stock worth $27,000 after purchasing an additional 54 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of EPAM Systems by 2,500.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 125 shares during the period. TD Private Client Wealth LLC increased its position in shares of EPAM Systems by 88.5% in the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock worth $34,000 after purchasing an additional 69 shares during the period. Sentry Investment Management LLC bought a new position in shares of EPAM Systems in the first quarter worth $33,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of EPAM Systems in the fourth quarter worth $49,000. Institutional investors and hedge funds own 91.58% of the company's stock.

EPAM Systems Stock Down 1.0%

NYSE:EPAM traded down $1.78 during trading hours on Wednesday, reaching $181.54. 88,923 shares of the company traded hands, compared to its average volume of 684,074. The business's 50-day moving average price is $174.71 and its two-hundred day moving average price is $195.22. The stock has a market capitalization of $10.28 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.40 and a beta of 1.70. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.14. EPAM Systems had a return on equity of 14.15% and a net margin of 8.47%. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The company's revenue was up 11.7% on a year-over-year basis. Analysts predict that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on EPAM. Needham & Company LLC raised their price objective on EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley decreased their price target on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Susquehanna reduced their price objective on EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler upped their price objective on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Scotiabank cut their price target on EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $233.93.

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.