New York State Teachers Retirement System Reduces Stock Position in EPAM Systems, Inc. (NYSE:EPAM)

New York State Teachers Retirement System lowered its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,867 shares of the information technology services provider's stock after selling 3,500 shares during the period. New York State Teachers Retirement System owned 0.09% of EPAM Systems worth $8,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPAM. American Century Companies Inc. raised its stake in EPAM Systems by 35.8% in the 4th 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 period. Mirae Asset Global Investments Co. Ltd. raised its stake in EPAM Systems by 18.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,248 shares of the information technology services provider's stock valued at $1,224,000 after acquiring an additional 1,112 shares during the period. SG Americas Securities LLC raised its stake in EPAM Systems by 518.9% in the 1st quarter. SG Americas Securities LLC now owns 6,950 shares of the information technology services provider's stock valued at $1,173,000 after acquiring an additional 5,827 shares during the period. Fifth Third Bancorp raised its stake in EPAM Systems by 6.1% in the 1st quarter. Fifth Third Bancorp now owns 1,572 shares of the information technology services provider's stock valued at $265,000 after acquiring an additional 91 shares during the period. Finally, DnB Asset Management AS raised its stake 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 valued at $2,629,000 after acquiring an additional 2,349 shares during the period. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on EPAM shares. Barclays raised their price target on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Stifel Nicolaus decreased their price target on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Susquehanna reduced their price objective on shares of EPAM Systems from $270.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler upped their price objective on shares of EPAM Systems from $170.00 to $194.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of EPAM Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $233.93.

EPAM Systems Stock Down 1.4%

Shares of EPAM Systems stock traded down $2.53 during trading on Monday, hitting $180.30. The company's stock had a trading volume of 151,979 shares, compared to its average volume of 684,263. 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 company has a fifty day simple moving average of $173.82 and a two-hundred day simple moving average of $195.78. The company has a market capitalization of $10.21 billion, a PE ratio of 25.27, a P/E/G ratio of 2.44 and a beta of 1.70. 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 issued its quarterly 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. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the business earned $2.46 EPS. EPAM Systems's quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict 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.