Focus Partners Wealth Makes New $484,000 Investment in EPAM Systems, Inc. (NYSE:EPAM)

Focus Partners Wealth purchased a new position in EPAM Systems, Inc. (NYSE:EPAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,071 shares of the information technology services provider's stock, valued at approximately $484,000.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in EPAM Systems by 12.2% in the third quarter. Barclays PLC now owns 128,629 shares of the information technology services provider's stock valued at $25,602,000 after acquiring an additional 13,981 shares during the period. Merit Financial Group LLC acquired a new position in EPAM Systems in the fourth quarter valued at approximately $245,000. Perpetual Ltd boosted its stake in EPAM Systems by 90.3% in the fourth quarter. Perpetual Ltd now owns 2,605 shares of the information technology services provider's stock valued at $609,000 after acquiring an additional 1,236 shares during the period. MBM Wealth Consultants LLC boosted its stake in EPAM Systems by 3.0% in the fourth quarter. MBM Wealth Consultants LLC now owns 5,720 shares of the information technology services provider's stock valued at $1,311,000 after acquiring an additional 165 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in EPAM Systems by 170.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,718 shares of the information technology services provider's stock valued at $1,805,000 after acquiring an additional 4,862 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPAM has been the subject of several analyst reports. Guggenheim boosted their price objective on EPAM Systems from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Piper Sandler boosted their price objective on EPAM Systems from $170.00 to $194.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Stifel Nicolaus reduced their price objective on EPAM Systems from $275.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Barclays boosted their target price on EPAM Systems from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Morgan Stanley dropped 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. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.50.

EPAM Systems Stock Performance

Shares of EPAM traded down $4.74 during trading hours on Friday, reaching $175.89. 1,057,164 shares of the company traded hands, compared to its average volume of 684,610. The stock's fifty day moving average is $164.56 and its 200 day moving average is $210.42. The stock has a market cap of $9.96 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 3.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.56 and a current ratio of 2.96. 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 announced its quarterly earnings data 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. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.28 billion. EPAM Systems had a net margin of 9.61% and a return on equity of 14.60%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. Equities research analysts anticipate that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

About EPAM Systems

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.