Envestnet Portfolio Solutions Inc. Lowers Stake in EPAM Systems, Inc. (NYSE:EPAM)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 39.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,289 shares of the information technology services provider's stock after selling 1,503 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in EPAM Systems were worth $386,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its position in EPAM Systems by 35.8% during the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock valued at $4,816,000 after acquiring an additional 5,435 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of EPAM Systems by 518.9% during the 1st quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock worth $1,173,000 after purchasing an additional 5,827 shares during the period. Fifth Third Bancorp grew its holdings in EPAM Systems by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock valued at $265,000 after purchasing an additional 91 shares during the last quarter. DnB Asset Management AS raised its position in EPAM Systems by 26.4% in the 4th quarter. DnB Asset Management AS now owns 11,245 shares of the information technology services provider's stock worth $2,629,000 after purchasing an additional 2,349 shares during the period. Finally, CX Institutional purchased a new stake in EPAM Systems in the 1st quarter worth about $42,000. Institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EPAM shares. Piper Sandler upped 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. Morgan Stanley cut their price objective on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC lifted their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Susquehanna lowered their target price on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Finally, Guggenheim raised their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Five equities research 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, EPAM Systems presently has a consensus rating of "Moderate Buy" and an average target price of $233.93.

EPAM Systems Stock Performance

Shares of EPAM Systems stock traded up $2.15 on Tuesday, reaching $178.97. 554,047 shares of the stock were exchanged, compared to its average volume of 686,244. The business has a 50 day moving average price of $172.34 and a two-hundred day moving average price of $197.42. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.33 and a beta of 1.70. EPAM Systems, Inc. has a twelve month low of $138.15 and a twelve month high of $269.00. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last issued its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.14. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.28 billion. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 earnings per share. Analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal 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.