Allspring Global Investments Holdings LLC Trims Stock Holdings in EPAM Systems, Inc. $EPAM

Allspring Global Investments Holdings LLC reduced its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 29.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,844 shares of the information technology services provider's stock after selling 12,188 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of EPAM Systems worth $4,033,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital World Investors lifted its stake in shares of EPAM Systems by 59.4% during the 4th quarter. Capital World Investors now owns 3,679,590 shares of the information technology services provider's stock worth $753,874,000 after purchasing an additional 1,371,557 shares during the last quarter. Boston Partners purchased a new stake in shares of EPAM Systems during the fourth quarter valued at about $349,428,000. JPMorgan Chase & Co. boosted its holdings in shares of EPAM Systems by 56.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,147,930 shares of the information technology services provider's stock valued at $235,188,000 after buying an additional 416,324 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of EPAM Systems by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,072,937 shares of the information technology services provider's stock valued at $219,823,000 after buying an additional 13,768 shares in the last quarter. Finally, Brandes Investment Partners LP grew its position in shares of EPAM Systems by 19.6% in the 4th quarter. Brandes Investment Partners LP now owns 983,830 shares of the information technology services provider's stock worth $201,570,000 after buying an additional 161,280 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC lowered their price target on EPAM Systems from $175.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Wedbush assumed coverage on shares of EPAM Systems in a report on Monday, June 15th. They set a "neutral" rating and a $99.00 price objective on the stock. Weiss Ratings lowered shares of EPAM Systems from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, May 7th. The Goldman Sachs Group downgraded shares of EPAM Systems from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $215.00 to $110.00 in a research report on Friday, May 8th. Finally, TD Cowen decreased their price target on shares of EPAM Systems from $170.00 to $131.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, EPAM Systems presently has an average rating of "Hold" and an average price target of $134.36.

EPAM Systems Stock Up 4.4%

Shares of NYSE:EPAM opened at $89.94 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market capitalization of $4.70 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43. The firm's 50-day moving average is $90.89 and its two-hundred day moving average is $131.65. EPAM Systems, Inc. has a 1 year low of $73.06 and a 1 year high of $222.53.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.75 by $0.11. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.39 billion. EPAM Systems had a net margin of 6.96% and a return on equity of 14.71%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.41 EPS. Analysts predict that EPAM Systems, Inc. will post 10.4 EPS for the current year.

EPAM Systems Profile

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM's offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.

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