Allspring Global Investments Holdings LLC Decreases Stock Holdings in EPAM Systems, Inc. (NYSE:EPAM)

Allspring Global Investments Holdings LLC reduced its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 56.1% during the first quarter, according to its most recent disclosure 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 period. Allspring Global Investments Holdings LLC's holdings in EPAM Systems were worth $3,438,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in shares of EPAM Systems by 35.8% during the 4th quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after purchasing an additional 5,435 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of EPAM Systems by 18.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,248 shares of the information technology services provider's stock valued at $1,224,000 after purchasing an additional 1,112 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of EPAM Systems by 518.9% during the 1st quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock valued at $1,173,000 after purchasing an additional 5,827 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of EPAM Systems by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock valued at $265,000 after purchasing an additional 91 shares during the last quarter. Finally, DnB Asset Management AS grew its holdings in shares of EPAM Systems by 26.4% during the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock valued at $2,629,000 after purchasing an additional 2,349 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Stock Down 1.5%

NYSE EPAM traded down $2.75 during trading hours on Monday, reaching $180.08. 483,661 shares of the company's stock traded hands, compared to its average volume of 685,508. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00. The firm has a market cap of $10.20 billion, a PE ratio of 25.19, a PEG ratio of 2.44 and a beta of 1.70. The firm has a 50-day simple moving average of $173.82 and a 200 day simple moving average of $195.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 3.06.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EPAM. Susquehanna cut their price target on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler raised their price target on shares of EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Guggenheim raised their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Needham & Company LLC raised their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $233.93.

About EPAM Systems

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.