EPAM Systems, Inc. (NYSE:EPAM) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,157 shares of the information technology services provider's stock after selling 51,734 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of EPAM Systems worth $57,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPAM. EverSource Wealth Advisors LLC raised its holdings 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 valued at $27,000 after buying an additional 54 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 valued at $30,000 after buying an additional 125 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in shares of EPAM Systems in the first quarter valued at about $33,000. TD Private Client Wealth LLC raised its holdings 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 valued at $34,000 after buying an additional 69 shares during the last quarter. Finally, CX Institutional purchased a new stake in shares of EPAM Systems in the first quarter valued at about $42,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EPAM. Barclays upped their target price on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Needham & Company LLC increased 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. Morgan Stanley cut their price target on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Wall Street Zen cut shares of EPAM Systems from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Finally, Piper Sandler increased 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, EPAM Systems has an average rating of "Moderate Buy" and an average price target of $233.93.

EPAM Systems Trading Down 4.3%

NYSE EPAM traded down $7.66 during mid-day trading on Friday, reaching $170.09. 722,321 shares of the stock were exchanged, compared to its average volume of 687,994. The stock has a market capitalization of $9.64 billion, a PE ratio of 23.79, a PEG ratio of 2.27 and a beta of 1.70. The business's fifty day simple moving average is $175.80 and its 200 day simple moving average is $193.84. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06.

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

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.