Federated Hermes Inc. Raises Position in EPAM Systems, Inc. (NYSE:EPAM)

Key Points

• Federated Hermes Inc. significantly increased its stake in EPAM Systems, Inc. by 1,906.5% during the first quarter, acquiring a total of 84,375 shares now valued at approximately $14.2 million.
• Institutional investors own 91.58% of EPAM's stock, with other significant investments from firms like Ninety One UK Ltd and Massachusetts Financial Services Co., reflecting growing confidence in the company's prospects.
• EPAM reported $1.30 billion in revenue for the quarter, surpassing estimates, with an earnings per share (EPS) of $2.41, beating analysts' expectations of $2.27.

Federated Hermes Inc. increased its stake in EPAM Systems, Inc. (NYSE:EPAM - Free Report) by 1,906.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,375 shares of the information technology services provider's stock after purchasing an additional 80,170 shares during the quarter. Federated Hermes Inc. owned approximately 0.15% of EPAM Systems worth $14,246,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EPAM. Brighton Jones LLC purchased a new position in EPAM Systems in the fourth quarter worth $218,000. American Century Companies Inc. grew its position in EPAM Systems by 35.8% in the fourth quarter. American Century Companies Inc. now owns 20,597 shares of the information technology services provider's stock worth $4,816,000 after acquiring an additional 5,435 shares in the last quarter. LPL Financial LLC grew its position in EPAM Systems by 31.6% in the fourth quarter. LPL Financial LLC now owns 32,107 shares of the information technology services provider's stock worth $7,507,000 after acquiring an additional 7,711 shares in the last quarter. Pictet Asset Management Holding SA grew its position in EPAM Systems by 4.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 27,643 shares of the information technology services provider's stock worth $6,463,000 after acquiring an additional 1,185 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in EPAM Systems in the fourth quarter worth $1,382,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

EPAM Systems Stock Up 1.5%

EPAM traded up $2.21 during midday trading on Monday, reaching $153.20. The company's stock had a trading volume of 803,987 shares, compared to its average volume of 573,691. The stock's 50-day moving average is $172.04 and its 200-day moving average is $186.71. 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. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.25 and a beta of 1.67.

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 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 for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The business's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts expect that EPAM Systems, Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim upped their target price on shares of EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Susquehanna lowered their price target 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. Stifel Nicolaus lowered their price objective on shares of EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Barclays upped their price objective on shares of EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Finally, 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. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.