Cetera Investment Advisers Raises Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Cetera Investment Advisers increased its stake in EPAM Systems by 70.8%, bringing its total to $1.54 million with 9,146 shares owned.
• EPAM Systems reported a quarterly earnings per share of $2.77, exceeding estimates, with an 18.0% increase in year-over-year revenue totaling $1.35 billion.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $231.73, reflecting strong confidence from analysts.

Cetera Investment Advisers raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 70.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,146 shares of the information technology services provider's stock after acquiring an additional 3,791 shares during the period. Cetera Investment Advisers' holdings in EPAM Systems were worth $1,544,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EPAM. Kayne Anderson Rudnick Investment Management LLC increased its stake 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 worth $30,000 after acquiring an additional 125 shares during the last quarter. Sentry Investment Management LLC bought a new stake in EPAM Systems in the first quarter worth $33,000. CX Institutional bought a new stake in EPAM Systems during the first quarter valued at about $42,000. First Horizon Advisors Inc. boosted its holdings in EPAM Systems by 79.5% during the first quarter. First Horizon Advisors Inc. now owns 481 shares of the information technology services provider's stock valued at $81,000 after acquiring an additional 213 shares during the period. Finally, IFP Advisors Inc boosted its holdings in EPAM Systems by 149.2% during the first quarter. IFP Advisors Inc now owns 785 shares of the information technology services provider's stock valued at $133,000 after acquiring an additional 470 shares during the period. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EPAM shares. Susquehanna dropped their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Barclays increased their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Scotiabank decreased their price target on shares of EPAM Systems from $250.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 29th. Guggenheim increased their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Morgan Stanley decreased their price target on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $231.73.

EPAM Systems Stock Up 0.7%

Shares of EPAM traded up $1.13 during trading hours on Tuesday, reaching $152.93. 713,280 shares of the stock traded hands, compared to its average volume of 772,261. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $169.13 and a 200 day simple moving average of $182.96. EPAM Systems, Inc. has a 52 week low of $138.15 and a 52 week high of $269.00. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.26 and a beta of 1.67.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.16. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $2.45 earnings per share. The firm's revenue was up 18.0% on a year-over-year basis. On average, equities analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

EPAM Systems Profile

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.