BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stake in EPAM Systems, Inc. (NYSE:EPAM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 53.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,360 shares of the information technology services provider's stock after buying an additional 98,731 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.50% of EPAM Systems worth $66,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in EPAM Systems by 90.0% in the 4th 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 raised its holdings in EPAM Systems by 2,500.0% in the 4th 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 raised its holdings in EPAM Systems by 88.5% in the 4th 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. Manchester Capital Management LLC raised its holdings in EPAM Systems by 590.0% in the 4th quarter. Manchester Capital Management LLC now owns 207 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 177 shares during the period. Finally, Physician Wealth Advisors Inc. bought a new position in EPAM Systems in the 4th quarter worth $49,000. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EPAM shares. Stifel Nicolaus decreased their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler raised their target price on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Susquehanna cut their price target 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. Barclays increased their price target on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Finally, Needham & Company LLC increased their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, EPAM Systems has a consensus rating of "Moderate Buy" and a consensus target price of $231.50.

EPAM Systems Price Performance

Shares of EPAM Systems stock traded down $4.74 during trading on Friday, reaching $175.89. 1,057,164 shares of the stock traded hands, compared to its average volume of 684,610. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.38 and a beta of 1.71. The business has a fifty day simple moving average of $164.56 and a two-hundred day simple moving average of $210.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. EPAM Systems, Inc. has a 52-week low of $138.15 and a 52-week high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.14. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a return on equity of 14.60% and a net margin of 9.61%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. Sell-side analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current 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.