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

Key Points

• Citigroup Inc. increased its stake in EPAM Systems by 24.5% in Q1, owning 168,501 shares valued at approximately $28.45 million.
• Several analysts have upgraded their ratings for EPAM Systems, with Needham & Company LLC and Guggenheim raising their price targets to $215.00 and providing a "buy" rating.
• EPAM Systems reported Q2 earnings of $2.77 per share, exceeding estimates and reflecting an 18% increase in revenue year-over-year.

Citigroup Inc. increased its position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,501 shares of the information technology services provider's stock after buying an additional 33,209 shares during the period. Citigroup Inc. owned 0.30% of EPAM Systems worth $28,450,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EPAM. Fifth Third Bancorp raised its holdings in shares of 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 worth $265,000 after purchasing an additional 91 shares during the period. Empirical Finance LLC grew its position in EPAM Systems by 7.1% in the first quarter. Empirical Finance LLC now owns 1,457 shares of the information technology services provider's stock worth $246,000 after acquiring an additional 96 shares in the last quarter. Yousif Capital Management LLC boosted its position in EPAM Systems by 1.4% during the first quarter. Yousif Capital Management LLC now owns 7,200 shares of the information technology services provider's stock valued at $1,216,000 after buying an additional 97 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of EPAM Systems by 2.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,363 shares of the information technology services provider's stock worth $737,000 after purchasing an additional 102 shares during the period. Finally, MBM Wealth Consultants LLC boosted its holdings in shares of EPAM Systems by 2.1% during the first quarter. MBM Wealth Consultants LLC now owns 5,839 shares of the information technology services provider's stock worth $986,000 after purchasing an additional 119 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Trading Down 0.9%

Shares of EPAM Systems stock traded down $1.38 during mid-day trading on Friday, hitting $157.92. The stock had a trading volume of 878,696 shares, compared to its average volume of 798,608. The firm has a 50-day moving average of $168.12 and a two-hundred day moving average of $181.49. EPAM Systems, Inc. has a 12-month low of $138.15 and a 12-month high of $269.00. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The firm has a market cap of $8.80 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.38 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 for the quarter, topping analysts' consensus estimates of $2.61 by $0.16. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. EPAM Systems had a net margin of 7.91% and a return on equity of 14.00%. The firm's quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $2.45 EPS. Sell-side analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on EPAM shares. 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. Morgan Stanley decreased their target price on shares of EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Barclays lifted their price target on shares of EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Stifel Nicolaus lowered their target price on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Guggenheim boosted 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.73.

EPAM Systems Company 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.