Contravisory Investment Management Inc. Invests $585,000 in EPAM Systems, Inc. (NYSE:EPAM)

Contravisory Investment Management Inc. bought a new position in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,463 shares of the information technology services provider's stock, valued at approximately $585,000.

Several other large investors also recently modified their holdings of EPAM. Brighton Jones LLC acquired a new stake in EPAM Systems during the fourth quarter worth approximately $218,000. Blue Trust Inc. raised its stake in shares of EPAM Systems by 46.5% in the fourth quarter. Blue Trust Inc. now owns 488 shares of the information technology services provider's stock valued at $114,000 after buying an additional 155 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in shares of EPAM Systems by 10.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,127 shares of the information technology services provider's stock valued at $497,000 after purchasing an additional 207 shares in the last quarter. Greenleaf Trust purchased a new position in EPAM Systems during the fourth quarter worth about $227,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in EPAM Systems by 28.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,136 shares of the information technology services provider's stock worth $1,460,000 after buying an additional 1,370 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

EPAM Systems Trading Up 2.2%

Shares of NYSE:EPAM traded up $3.85 during mid-day trading on Friday, reaching $178.42. 501,852 shares of the company were exchanged, compared to its average volume of 701,569. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.96 and a quick ratio of 4.56. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 3.38 and a beta of 1.72. The firm's 50-day simple moving average is $164.67 and its 200 day simple moving average is $206.09. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00.

EPAM Systems (NYSE:EPAM - Get Free Report) last announced 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. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $2.46 EPS. The company's revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EPAM shares. Piper Sandler boosted their target price on EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC upped 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. Stifel Nicolaus cut their target price on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim increased their target price on EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Barclays raised 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, EPAM Systems currently has a consensus rating of "Moderate Buy" and an average target price of $233.93.

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.