Mitsubishi UFJ Asset Management Co. Ltd. Acquires 11,080 Shares of EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in EPAM Systems by 11.8%, now owning 104,679 shares valued at $17.67 million according to its latest SEC filing.
• Several institutional investors have also modified their holdings, with Ninety One UK Ltd. making a notable new investment worth approximately $186 million.
• EPAM Systems recently reported earnings of $2.77 per share, exceeding analyst expectations and reflecting a revenue increase of 18% year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,679 shares of the information technology services provider's stock after buying an additional 11,080 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of EPAM Systems worth $17,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Capital World Investors boosted its stake in shares of EPAM Systems by 22.0% during the 4th quarter. Capital World Investors now owns 2,304,243 shares of the information technology services provider's stock valued at $538,778,000 after buying an additional 414,942 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of EPAM Systems by 39.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,181,143 shares of the information technology services provider's stock valued at $510,053,000 after buying an additional 620,551 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of EPAM Systems by 98.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,628,304 shares of the information technology services provider's stock valued at $274,923,000 after buying an additional 809,423 shares during the period. Ninety One UK Ltd acquired a new stake in shares of EPAM Systems during the 1st quarter valued at $186,280,000. Finally, Marshall Wace LLP boosted its stake in shares of EPAM Systems by 126.4% during the 4th quarter. Marshall Wace LLP now owns 769,584 shares of the information technology services provider's stock valued at $179,944,000 after buying an additional 429,644 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EPAM. Susquehanna decreased 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. Needham & Company LLC raised their price target on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Barclays raised their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Guggenheim raised their price target on shares of EPAM Systems from $210.00 to $215.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Scotiabank cut 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EPAM Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.73.

EPAM Systems Stock Performance

Shares of NYSE:EPAM traded down $0.30 on Friday, hitting $159.00. 158,791 shares of the company were exchanged, compared to its average volume of 747,678. The company's 50 day moving average price is $168.53 and its two-hundred day moving average price is $182.17. EPAM Systems, Inc. has a one year low of $138.15 and a one year high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.17 and a current ratio of 3.17. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.40 and a beta of 1.67.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.16. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The business's revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.45 EPS. Research analysts expect that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

EPAM Systems Profile

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.