EPAM Systems, Inc. (NYSE:EPAM) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. significantly increased its stake in EPAM Systems by 18,473.2% during the first quarter, acquiring a total of 7,615 shares worth approximately $1.29 million.
• EPAM Systems reported an EPS of $2.41 for the last quarter, surpassing analyst expectations of $2.27, and achieved a revenue growth of 11.7% year-over-year.
• Multiple analysts have adjusted their price targets for EPAM, with Piper Sandler raising it from $170 to $194, while Barclays increased their target from $200 to $215, indicating a consensus rating of "Moderate Buy".

Assetmark Inc. raised its holdings in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 18,473.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,615 shares of the information technology services provider's stock after purchasing an additional 7,574 shares during the period. Assetmark Inc.'s holdings in EPAM Systems were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in 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 buying an additional 125 shares in the last quarter. Sentry Investment Management LLC bought a new position in EPAM Systems in the first quarter worth about $33,000. CX Institutional bought a new position in EPAM Systems in the first quarter worth about $42,000. First Horizon Advisors Inc. raised its stake in EPAM Systems by 79.5% in the first quarter. First Horizon Advisors Inc. now owns 481 shares of the information technology services provider's stock worth $81,000 after buying an additional 213 shares in the last quarter. Finally, Covestor Ltd raised its stake in EPAM Systems by 42.4% in the fourth quarter. Covestor Ltd now owns 698 shares of the information technology services provider's stock worth $164,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

EPAM Systems Stock Performance

Shares of EPAM stock traded down $3.63 during mid-day trading on Tuesday, reaching $149.67. 517,294 shares of the company's stock traded hands, compared to its average volume of 731,952. EPAM Systems, Inc. has a 12 month low of $138.15 and a 12 month high of $269.00. The firm has a 50 day moving average price of $171.59 and a two-hundred day moving average price of $186.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The firm has a market capitalization of $8.48 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.25 and a beta of 1.67.

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

Analyst Upgrades and Downgrades

EPAM has been the topic of a number of analyst reports. Susquehanna dropped their price target on EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler boosted their price target on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. 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. Needham & Company LLC boosted their price target on EPAM Systems from $185.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Guggenheim boosted their price target on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.73.

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.