Contravisory Investment Management Inc. Acquires New Position in EPAM Systems, Inc. (NYSE:EPAM)

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

Several other institutional investors and hedge funds have also bought and sold shares of EPAM. Norges Bank acquired a new stake in shares of EPAM Systems in the 4th quarter valued at about $173,053,000. William Blair Investment Management LLC acquired a new stake in EPAM Systems in the fourth quarter valued at approximately $166,906,000. Ameriprise Financial Inc. increased its holdings in shares of EPAM Systems by 39.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after acquiring an additional 620,551 shares in the last quarter. Marshall Wace LLP raised its position in shares of EPAM Systems by 126.4% during the fourth quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock worth $179,944,000 after purchasing an additional 429,644 shares during the period. Finally, Capital World Investors lifted its holdings in shares of EPAM Systems by 22.0% in the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock worth $538,778,000 after purchasing an additional 414,942 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EPAM has been the topic of several research reports. Susquehanna lowered their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC increased their price objective on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Guggenheim boosted their price objective on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Scotiabank lowered 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 report on Tuesday, April 29th. Finally, Stifel Nicolaus dropped their price target on EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $233.93.

EPAM Systems Price Performance

EPAM Systems stock traded down $1.14 during midday trading on Thursday, hitting $174.51. 664,025 shares of the company's stock were exchanged, compared to its average volume of 700,874. The company has a market cap of $9.89 billion, a P/E ratio of 22.26, a PEG ratio of 3.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. The stock has a 50-day moving average price of $164.34 and a two-hundred day moving average price of $207.03. 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 posted its quarterly earnings data on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the business earned $2.46 earnings per share. EPAM Systems's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share 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.