38,700 Shares in EPAM Systems, Inc. (NYSE:EPAM) Acquired by FengHe Fund Management Pte. Ltd.

Key Points

• FengHe Fund Management acquired a stake in EPAM Systems, investing approximately $6.53 million for 38,700 shares, making it the fund's 16th largest holding.
• Most recently, EPAM Systems reported earnings per share (EPS) of $2.77, surpassing analysts' expectations of $2.61, with revenue increasing by 18% year-over-year.
• Analysts' ratings on EPAM Systems include a consensus of "Moderate Buy" with a target price averaging $231.73, reflecting varying sentiments from different investment firms.

FengHe Fund Management Pte. Ltd. purchased a new stake in shares of EPAM Systems, Inc. (NYSE:EPAM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 38,700 shares of the information technology services provider's stock, valued at approximately $6,534,000. EPAM Systems accounts for about 2.4% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 16th biggest position. FengHe Fund Management Pte. Ltd. owned 0.07% of EPAM Systems as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EPAM. Resona Asset Management Co. Ltd. boosted its stake in shares of EPAM Systems by 8.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 17,895 shares of the information technology services provider's stock worth $3,022,000 after acquiring an additional 1,408 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of EPAM Systems by 66.8% during the 1st quarter. Westpac Banking Corp now owns 844 shares of the information technology services provider's stock worth $143,000 after acquiring an additional 338 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of EPAM Systems by 7.8% during the 1st quarter. Public Sector Pension Investment Board now owns 8,811 shares of the information technology services provider's stock worth $1,488,000 after acquiring an additional 639 shares in the last quarter. AIA Group Ltd bought a new stake in shares of EPAM Systems during the 1st quarter worth $419,000. Finally, Motley Fool Asset Management LLC boosted its position in shares of EPAM Systems by 14.0% in the first quarter. Motley Fool Asset Management LLC now owns 1,360 shares of the information technology services provider's stock worth $230,000 after buying an additional 167 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

EPAM Systems Price Performance

NYSE EPAM traded down $1.38 during trading on Friday, reaching $157.92. 878,696 shares of the company traded hands, compared to its average volume of 798,608. 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 stock's 50 day moving average price is $168.12 and its two-hundred day moving average price is $181.00. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 2.35 and a beta of 1.67. EPAM Systems, Inc. has a 1-year low of $138.15 and a 1-year high of $269.00.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler raised their target price on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen upgraded EPAM Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Barclays raised their target price on EPAM Systems from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft started coverage on EPAM Systems in a report on Thursday, July 17th. They set a "hold" rating and a $171.00 target price on the stock. Finally, Morgan Stanley cut their target price on EPAM Systems from $250.00 to $210.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, EPAM Systems currently has an average rating of "Moderate Buy" and a consensus target price of $231.73.

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.