Empowered Funds LLC Increases Stake in EPAM Systems, Inc. $EPAM

Key Points

• Empowered Funds LLC increased its EPAM Systems stake by 1,969.7% during the first quarter, holding 87,568 shares valued at approximately $11.9 million. Institutional investors collectively own 91.58% of the company.
• Analyst sentiment has weakened, with several firms cutting price targets and two downgrading the stock to “hold” or “neutral.” EPAM has a consensus rating of “Hold” and an average price target of $133.50.
• EPAM reported quarterly EPS of $2.86, beating estimates of $2.75, while revenue reached $1.40 billion and rose 7.6% year over year. The stock opened at $107.26, well below its 12-month high of $222.53.

Empowered Funds LLC raised its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 1,969.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 87,568 shares of the information technology services provider's stock after acquiring an additional 83,337 shares during the period. Empowered Funds LLC owned approximately 0.17% of EPAM Systems worth $11,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EPAM. Asset Management One Co. Ltd. lifted its position in EPAM Systems by 2.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,074 shares of the information technology services provider's stock valued at $439,000 after purchasing an additional 51 shares during the period. Rothschild Investment LLC boosted its holdings in EPAM Systems by 51.4% in the 4th quarter. Rothschild Investment LLC now owns 159 shares of the information technology services provider's stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. Horizon Investments LLC increased its position in EPAM Systems by 6.4% during the 4th quarter. Horizon Investments LLC now owns 928 shares of the information technology services provider's stock worth $190,000 after purchasing an additional 56 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in EPAM Systems by 4.5% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,570 shares of the information technology services provider's stock worth $322,000 after purchasing an additional 67 shares during the period. Finally, Perpetual Ltd raised its stake in shares of EPAM Systems by 2.5% during the 4th quarter. Perpetual Ltd now owns 2,897 shares of the information technology services provider's stock worth $594,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group cut EPAM Systems from a "buy" rating to a "hold" rating and reduced their price target for the company from $130.00 to $110.00 in a report on Friday, May 29th. Needham & Company LLC dropped their price objective on EPAM Systems from $175.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, May 7th. Truist Financial cut their price objective on EPAM Systems from $146.00 to $112.00 and set a "hold" rating for the company in a research report on Friday, May 8th. Wedbush assumed coverage on EPAM Systems in a report on Monday, June 15th. They issued a "neutral" rating and a $99.00 target price for the company. Finally, The Goldman Sachs Group lowered shares of EPAM Systems from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $215.00 to $110.00 in a research report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $133.50.

EPAM Systems Price Performance

EPAM stock opened at $107.26 on Thursday. The firm has a 50 day moving average of $90.83 and a 200-day moving average of $128.62. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.95 and a beta of 1.43. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.05. EPAM Systems, Inc. has a 12-month low of $73.06 and a 12-month high of $222.53.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The information technology services provider reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $0.11. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.39 billion. EPAM Systems had a return on equity of 14.71% and a net margin of 6.96%.The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.41 EPS. As a group, equities analysts expect that EPAM Systems, Inc. will post 10.4 EPS for the current fiscal year.

About EPAM Systems

EPAM Systems, Inc is a global provider of digital platform engineering and software development services. The company partners with clients across industries—such as financial services, healthcare, retail, and technology—to design, develop, and maintain complex software applications and digital experiences. EPAM's offerings include custom software development, application management, infrastructure management, quality assurance, and testing services, enabling organizations to accelerate digital transformation and enhance operational efficiency.

In addition to its core engineering capabilities, EPAM delivers a range of specialized services, including product design and consulting, data and analytics, cloud computing, DevOps, and cybersecurity.

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