Bank of America Corp DE Acquires New Holdings in EPAM Systems, Inc. $EPAM

Key Points

• Bank of America acquired 662,019 EPAM shares during the second quarter, valued at approximately $52.5 million and representing about 1.28% of the company. Institutional investors collectively own 91.58% of EPAM.
• EPAM exceeded quarterly earnings expectations, reporting $3.38 in EPS versus the $3.16 consensus, while revenue reached $1.41 billion, up 4.6% year over year.
• Analyst sentiment remains mixed, with six Buy, ten Hold and one Sell rating; the stock has a consensus rating of Hold and an average price target of $116.47.

Bank of America Corp DE acquired a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 662,019 shares of the information technology services provider's stock, valued at approximately $52,531,000. Bank of America Corp DE owned about 1.28% of EPAM Systems as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of EPAM Systems by 7.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 348,586 shares of the information technology services provider's stock valued at $47,199,000 after acquiring an additional 25,152 shares during the period. Bank Hapoalim BM acquired a new position in shares of EPAM Systems in the 2nd quarter valued at about $1,491,000. Lazard Asset Management LLC boosted its stake in shares of EPAM Systems by 82.2% in the first quarter. Lazard Asset Management LLC now owns 39,326 shares of the information technology services provider's stock worth $5,325,000 after buying an additional 17,737 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of EPAM Systems in the second quarter worth about $9,315,000. Finally, Norges Bank acquired a new stake in EPAM Systems during the fourth quarter worth about $147,870,000. Institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Performance

EPAM opened at $114.63 on Monday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.17 and a beta of 1.38. EPAM Systems, Inc. has a 52-week low of $73.06 and a 52-week high of $222.53. The firm's fifty day simple moving average is $105.10 and its two-hundred day simple moving average is $109.15.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its earnings results on Thursday, August 6th. The information technology services provider reported $3.38 EPS for the quarter, topping analysts' consensus estimates of $3.16 by $0.22. EPAM Systems had a net margin of 7.15% and a return on equity of 15.84%. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the previous year, the company earned $2.77 earnings per share. The company's quarterly revenue was up 4.6% on a year-over-year basis. EPAM Systems has set its FY 2026 guidance at 13.080-13.240 EPS and its Q3 2026 guidance at 3.380-3.460 EPS. Equities analysts anticipate that EPAM Systems, Inc. will post 10.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPAM. TD Cowen decreased their price target on EPAM Systems from $131.00 to $120.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of EPAM Systems in a research note on Tuesday, August 4th. Morgan Stanley set a $97.00 target price on shares of EPAM Systems in a report on Friday, August 7th. Mizuho set a $130.00 price target on shares of EPAM Systems in a report on Monday, August 10th. Finally, Stifel Nicolaus set a $135.00 price target on shares of EPAM Systems in a report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $116.47.

EPAM Systems Company Profile

EPAM Systems, Inc is a global digital engineering and technology services company that helps businesses design, develop and modernize software and digital products. Its services include software engineering, product development, platform engineering, cloud transformation, data and analytics, artificial intelligence, cybersecurity, consulting and experience design.

EPAM serves clients across industries such as financial services, healthcare, life sciences, retail, travel and hospitality, media, telecommunications, energy and manufacturing.

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