EPAM Systems, Inc. (NYSE:EPAM) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 73.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,600 shares of the information technology services provider's stock after buying an additional 14,200 shares during the period. KLP Kapitalforvaltning AS owned 0.06% of EPAM Systems worth $5,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EPAM. UniSuper Management Pty Ltd increased its stake in shares of EPAM Systems by 0.3% during the fourth quarter. UniSuper Management Pty Ltd now owns 15,632 shares of the information technology services provider's stock valued at $3,655,000 after purchasing an additional 52 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of EPAM Systems by 88.5% during the fourth quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Fifth Third Bancorp increased its position in shares of EPAM Systems by 6.1% during the first 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 in the last quarter. Yousif Capital Management LLC increased its position in shares of 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 acquiring an additional 97 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position 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 valued at $737,000 after acquiring an additional 102 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on EPAM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of EPAM Systems in a research report on Thursday, July 17th. They issued a "hold" rating and a $171.00 target price for the company. Guggenheim lifted 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. Needham & Company LLC lifted their target price on shares of EPAM Systems from $185.00 to $215.00 and gave the company a "buy" rating in a research note 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 on the stock in a research note on Wednesday, April 23rd. Finally, Scotiabank reduced 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $231.73.

EPAM Systems Stock Performance

Shares of NYSE EPAM traded up $0.03 during midday trading on Monday, reaching $170.77. The company had a trading volume of 65,074 shares, compared to its average volume of 734,937. The business's 50-day simple moving average is $174.03 and its 200 day simple moving average is $188.99. The stock has a market cap of $9.67 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.41 and a beta of 1.70. EPAM Systems, Inc. has a 1 year low of $138.15 and a 1 year high of $269.00. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.01.

EPAM Systems (NYSE:EPAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.14. The business 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 business's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. On average, analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

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.